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Jiuquan Iron & Steel related party transactions triple

July 16, 2025 at 05:05 AM UTC•By FilingReader AI

Gansu Jiu Steel Group Hongxing Iron & Steel reported related party sales surged from RMB 3.22 billion in 2022 to RMB 9.672 billion in 2024, while procurement from related parties rose from RMB 10.686 billion to RMB 19.699 billion.

The disclosure came in response to regulatory inquiries about rising debt and related party transactions in its 2024 annual report.

Capital expenditures on construction projects jumped from RMB 750 million in 2020 to RMB 9.558 billion by Q1 2025, primarily for product restructuring and emissions upgrades.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

Primary Source Document

Response of Zhong Shen Zhong Huan Certified Public Accountants (special general partnership) to the regulatory inquiry letter regarding the 2024 annual report information disclosure of Gansu Jiuquan Iron & Steel (Group) Hongxing Iron & Steel Co., Ltd.July 15, 2025 at 08:00 AM UTC

Supplementary Source Documents

Announcement on the reply to the inquiry letter regarding the 2024 annual report of Jiugang HongxingJuly 15, 2025 at 08:00 AM UTC

Gansu Jiu Steel Group Hongxing Iron & Steel

SSE:600307•Shanghai Stock Exchange

Steel

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