Baosteel to reduce registered capital via share buyback

Baoshan Iron & Steel (SSE:600019) announced that it will reduce its registered capital by 126,559,250 shares following shareholder approval on May 20, 2025, for the buyback and cancellation of restricted stock. The buyback involves 126,559,250 restricted shares held by 1,762 incentive recipients at a price of CNY4.29 per share, due to the company not meeting its 2024 performance targets. The company is notifying creditors, who have 30 days from the date of notification, or 45 days from the date of publication, to claim debt repayment or request corresponding guarantees. Claims can be submitted via mail or email between May 21, 2025, and July 4, 2025.