Qinghai state-owned assets boost stake in Xining special steel

Qinghai Provincial State-owned Assets Investment Management Co. and its concerted parties have increased their combined stake in Xining Special Steel Co. to 21.09% of the total share capital, up from 18.02%. This change follows the gratuitous transfer of 100% equity in Qinghai Provincial Third Construction Engineering Co. from Qinghai Provincial Material Group Co. to Qinghai Provincial State-owned Assets Investment Management Co., as approved by the Qinghai Provincial State-owned Assets Supervision and Administration Commission on September 19, 2025.

The transaction involved the signing of an equity transfer agreement on September 26, 2025. As a result, Qinghai Provincial Third Construction Engineering Co. became a concerted party to Qinghai Provincial State-owned Assets Investment Management Co., adding its 100,000,000 shares to the group's total holdings.

Prior to this adjustment, the concerted parties held 586,548,921 shares. Post-transaction, their aggregate holdings now stand at 686,548,921 shares. This change does not alter the controlling shareholder or the actual controller of Xining Special Steel Co. The administrative transfer is expected to be finalized with relevant industrial and commercial registration procedures within 10 working days of the report's signing.