Chongqing Iron & Steel shares boosted by stake increase

Chongqing Iron & Steel (SSE: 601005) announced that Hwabao Investment Co., Ltd., a wholly-owned subsidiary of its actual controller, China Baowu Steel Group, has increased its holdings in the company. Between July 18, 2024, and April 9, 2025, Hwabao Investment acquired 13,745,970,000 A-shares through centralized competitive trading on the Shanghai Stock Exchange, representing 1.55% of the company's total share capital. The total investment amounted to CNY 150,459,600. Hwabao Investment intends to continue increasing its holdings in Chongqing Iron & Steel, with planned investments between CNY 150,000,000 and CNY 300,000,000. Following this transaction, China Baowu Steel Group and its concerted parties now control 29.40% of Chongqing Iron & Steel's total share capital.