Anyang Iron & Steel unit secures CNY 3.5bn in loans

Anyang Iron and Steel Co., Ltd. [SSE:600569] announced its subsidiary will borrow CNY 2.5 billion from Anyang Iron and Steel Group, constituting a related-party transaction needing shareholder approval. The funds are earmarked for Zhoukou Iron and Steel’s operational needs and to boost working capital. Concurrently, Anyang Iron & Steel Co. has independently sought a CNY 3.5 billion loan from the same parent entity to improve its financial structure and supplement its working capital. These loans, also related-party transactions, will require shareholder approval.