Xinyu Iron & Steel plans shareholder meeting, changes investment strategy

Xinyu Iron & Steel (SSE:600782) has scheduled an extraordinary shareholders' meeting for March 14, 2025, to address key company matters. The agenda includes the review and approval of routine related-party transactions for 2024 and a projection for 2025. Shareholders will also vote on a proposed director change at the company. Related-party transaction details will be disclosed on the Shanghai Securities Exchange website on Feb 27, 2025, and are subject to shareholder review. The company has also decided to terminate its plan to purchase wealth management products from an affiliate due to insufficient quota, and now the money will be reinvested into the group. Another announcement detailed the $23.3M acquisition of the environmental-focused subsidiary. The company says this will not impact finances.