According to the Xinxing Casting Pipe announcement, the 16th meeting of the 10th board of directors of the company agreed that the subsidiary Wuhu Xinxing will acquire 100% of China Resources Steel's shares for 1,244 billion yuan from December 9 to 10, 2025. The acquisition does not constitute a related transaction or major asset restructuring. The parties to the transaction signed an agreement, completed the registration of property rights with the State Assets Administration Commission and the registration of industrial and commercial changes. Wuhu Xinxing paid the transfer money, and China Resources Steel changed its name to Jiangyin Xinxing Special Steel. Shanghai Tichen Investment paid 55 million yuan in escrow fees, repaid 1,141 billion yuan of debt, and lifted the equity pledge. At this point, the transaction was completed, and Wuhu Xinxing held 100% of Jiangyin Xinxing's shares, which were included in the scope of the company's consolidated statements.

According to the Xinxing Casting Pipe announcement, the 16th meeting of the 10th board of directors of the company agreed that the subsidiary Wuhu Xinxing will acquire 100% of China Resources Steel's shares for 1,244 billion yuan from December 9 to 10, 2025. The acquisition does not constitute a related transaction or major asset restructuring. The parties to the transaction signed an agreement, completed the registration of property rights with the State Assets Administration Commission and the registration of industrial and commercial changes. Wuhu Xinxing paid the transfer money, and China Resources Steel changed its name to Jiangyin Xinxing Special Steel. Shanghai Tichen Investment paid 55 million yuan in escrow fees, repaid 1,141 billion yuan of debt, and lifted the equity pledge. At this point, the transaction was completed, and Wuhu Xinxing held 100% of Jiangyin Xinxing's shares, which were included in the scope of the company's consolidated statements.