Xining Special Steel: Shareholder equity shifts after intra-group debt transfer

Xining Special Steel Co., Ltd. announced a change in equity for shareholders holding 5% or more, indicating a 5% threshold was triggered. The total equity held by the information disclosure obligors increased from 14.95% to 18.02%. This change did not involve an increase or decrease in the individual shareholdings of Qinghai Xinshi Real Estate Co., Ltd., Qinghai Provincial State-owned Assets Investment Management Co., Ltd., or Wuhu Xinhai Industrial Investment Partnership (Limited Partnership).

The alteration stems from Qinghai Electro-Mechanical State-owned Holding Co., Ltd. transferring 100% of its equity in Qinghai Xinshi Real Estate Co., Ltd. to Qinghai Provincial State-owned Assets Investment Management Co., Ltd. to offset debts. This transaction resulted in Qinghai Xinshi Real Estate Co., Ltd. and Qinghai Provincial State-owned Assets Investment Management Co., Ltd. becoming parties acting in concert, along with Wuhu Xinhai Industrial Investment Partnership (Limited Partnership). Their combined shareholding in Xining Special Steel increased to 586,548,921 shares, representing 18.02% of the total share capital.

The equity change will not alter the company's controlling shareholder or actual controller. As of the report date, Qinghai Xinshi Real Estate Co., Ltd. has pledged 100m shares (3.07% of total share capital) to Qinghai Provincial State-owned Assets Investment Management Co., Ltd., and Wuhu Xinhai Industrial Investment Partnership (Limited Partnership) has pledged 150m shares (4.61% of total share capital) to China Cinda Asset Management Co., Ltd.