Fushun Special Steel: Tender offer concludes, corporate governance restructured

Ningbo Meishan Bonded Port Area Jincheng Shazhou Equity Investment Co. Ltd.'s tender offer for Fushun Special Steel shares has concluded, with 19,893,572 shares, representing 1.01% of the company's total share capital, being pre-accepted. Post-acquisition, Jincheng Shazhou and its concert parties collectively hold 31.00% of Fushun Special Steel's shares. Trading in the company's shares is scheduled to resume on September 12, 2025.

Fushun Special Steel announced significant revisions to its Articles of Association, including the abolition of the Supervisory Board and its functions. These responsibilities will now be assumed by the Board's Audit Committee. This move aims to streamline corporate governance in line with updated company and securities laws, ensuring internal oversight without affecting the company's listing status.

Accompanying these governance changes, Fushun Special Steel will amend various internal policies, such as the Rules of Procedure for Shareholder Meetings and the System for Independent Directors, and introduce new regulations like the Information Disclosure Deferral and Exemption Management System. These revisions reflect a comprehensive effort to enhance corporate governance and operational efficiency.