CITIC Special Steel announced that its wholly-owned subsidiary TaifukeChuang plans to acquire 100% of the shares of Fujiangte Co., Ltd. held by Guangzhou Airport with its own capital of 1.51 billion yuan. Fujiangte is one of the top three independent steel traders in the world. This transaction will help the company accelerate the implementation of its global strategy, optimize the global layout of the industrial chain, and comprehensively upgrade its core capabilities. The transaction price was paid in two instalments. The first was 30% of the transaction price, amounting to 453 million yuan; the second was 70% of the transaction price, amounting to 1,057 billion yuan. This transaction does not constitute a related transaction, nor does it constitute an asset transaction in a material asset restructuring standard as stipulated in the “Administrative Measures on Major Asset Reorganization of Listed Companies”, and does not involve a change in control.

CITIC Special Steel announced that its wholly-owned subsidiary TaifukeChuang plans to acquire 100% of the shares of Fujiangte Co., Ltd. held by Guangzhou Airport with its own capital of 1.51 billion yuan. Fujiangte is one of the top three independent steel traders in the world. This transaction will help the company accelerate the implementation of its global strategy, optimize the global layout of the industrial chain, and comprehensively upgrade its core capabilities. The transaction price was paid in two instalments. The first was 30% of the transaction price, amounting to 453 million yuan; the second was 70% of the transaction price, amounting to 1,057 billion yuan. This transaction does not constitute a related transaction, nor does it constitute an asset transaction in a material asset restructuring standard as stipulated in the “Administrative Measures on Major Asset Reorganization of Listed Companies”, and does not involve a change in control.