Nangang Steel Co., Ltd. announced that Nangang Steel Group plans to acquire 57.13% of Nangang Steel shares held by Nanjing Steel Federation and 100% of Nangang Steel Joint's shares by absorbing and merging Nanjing Steel Union. After the acquisition is completed, Nangang Steel Group will directly and indirectly hold a total of 59.10% of Nangang Steel shares. The direct controlling shareholder of Nangang Steel Co., Ltd. will be changed to Nangang Group, and the actual controller will remain CITIC Group. This acquisition is a transfer between different entities controlled by the same actual controller, and is in line with the situation where shares are exempt from being increased by means of an offer. The acquisition has been approved by CITIC Group and reviewed and approved by the relevant party's board of directors and shareholders' meetings, and procedures such as share transfer registration are still required.

Nangang Steel Co., Ltd. announced that Nangang Steel Group plans to acquire 57.13% of Nangang Steel shares held by Nanjing Steel Federation and 100% of Nangang Steel Joint's shares by absorbing and merging Nanjing Steel Union. After the acquisition is completed, Nangang Steel Group will directly and indirectly hold a total of 59.10% of Nangang Steel shares. The direct controlling shareholder of Nangang Steel Co., Ltd. will be changed to Nangang Group, and the actual controller will remain CITIC Group. This acquisition is a transfer between different entities controlled by the same actual controller, and is in line with the situation where shares are exempt from being increased by means of an offer. The acquisition has been approved by CITIC Group and reviewed and approved by the relevant party's board of directors and shareholders' meetings, and procedures such as share transfer registration are still required.