ZCZL proposes charter amendments, revises transaction caps with Ansteel Group

ZCZL Industrial Technology Group Company Limited is proposing amendments to its Articles of Association and the Rules of Procedure for Shareholders' Meetings. These amendments, approved by the board on 22 December 2025, include changes to the company's business scope to incorporate "research and development of machinery and equipment" and expand coal and coal products sales. Other key changes involve establishing different classes of shares, streamlining shareholder meeting procedures, and deleting sections related to special procedures for voting by class shareholders. These proposed amendments are subject to approval by the general meeting, as well as class meetings of A and H shareholders.

Additionally, ZCZL has announced a revision to the annual caps of its continuing connected transactions with Ansteel Group under the Commodities and Services Framework Agreement. While the total amount for the purchase of commodities and receipt of services by ZCZL from Ansteel Group remains RMB3,000,000 for 2026, the total amount for the purchase of commodities by Ansteel Group from ZCZL for 2026 has been increased from RMB500,000 to RMB650,000. For the period from 1 January 2025 to 31 October 2025, actual transactions involved RMB1,488,998 thousand in purchases and services received by ZCZL, and RMB486,137 thousand in commodities purchased by Ansteel Group. The revision to the 2026 cap reflects an anticipated increase in ZCZL’s steel trading business.