Chongqing Steel shareholders approve extended non-compete pledge from China Baowu

Chongqing Iron & Steel Company held its first extraordinary general meeting of shareholders for 2025 on September 16, 2025. Shareholders approved the "Proposal on the Extension of the Non-Competition Commitment by the Actual Controller China Baowu Steel Group Co., Ltd."

The resolution passed with overwhelming support, with 98.9878% of total ordinary shares voting in favor. A-share holders cast 890,911,085 votes in favor, while H-share holders approved with 1,069,325 votes. Associated parties, including Chongqing Changshou Steel Co., Ltd., Baowu Group Central-South Steel Co., Ltd., and Huabao Investment Co., Ltd., abstained from voting.

Beijing Zhong Lun (Chongqing) Law Firm confirmed that the meeting's procedures complied with relevant laws, regulations, and the company's articles of association.