Chongqing Iron & Steel completes auction for target assets

Chongqing Iron & Steel Company Limited (HKEX: 1053) announced the completion of its previously disclosed auction for target assets. The company finalized an Assets Transfer Agreement with CISG on June 16, 2025, to acquire assets for a total transaction price of RMB1,080,659,977.20 (tax inclusive). The acquired assets include No. 2 steelmaking series, 4100mm wide and heavy plates, 2700mm sheets, wires, bars and section production lines for steel rolling and other related assets.