Bayi Steel announced that it plans to renew the “Financial Services Agreement” with Baowu Group Finance Co., Ltd., which is valid until December 31, 2026. The finance company is a related party to the company. This transaction constitutes a related transaction, but it does not constitute a major asset restructuring. As of June 30, 2025, the balance of deposits between the company and finance companies in the past 12 months was 406 million yuan. The total assets of the finance company were 68.813 billion yuan, revenue was 771 million yuan, and total profit was 400 million yuan. The agreement is pending review at the 3rd Extraordinary Shareholders' Meeting in 2025, and related parties will relinquish their right to vote.

Bayi Steel announced that it plans to renew the “Financial Services Agreement” with Baowu Group Finance Co., Ltd., which is valid until December 31, 2026. The finance company is a related party to the company. This transaction constitutes a related transaction, but it does not constitute a major asset restructuring. As of June 30, 2025, the balance of deposits between the company and finance companies in the past 12 months was 406 million yuan. The total assets of the finance company were 68.813 billion yuan, revenue was 771 million yuan, and total profit was 400 million yuan. The agreement is pending review at the 3rd Extraordinary Shareholders' Meeting in 2025, and related parties will relinquish their right to vote.