Baogang Group pledges 31% of stake for financing

Inner Mongolia Baotou Steel Union announced that its controlling shareholder Baogang Group pledged 621 million shares to CITIC Securities as collateral for financing activities.

Baogang Group holds 55.38% of the steel company's total share capital. Following this transaction, the group's cumulative pledged shares reached 7.71 billion shares, representing 30.76% of its total holdings in the company.