Baoshan Iron & Steel appoints new auditor, schedules shareholder meeting

Baoshan Iron & Steel convened its ninth board of directors' third extraordinary meeting on September 28, 2025, to address key corporate matters. The board approved the 2024 performance evaluation and remuneration settlement for senior management, following a review by the Remuneration and Assessment Committee. Related director Liu Baojun recused himself, with non-related directors voting in favor.

A significant change involves the appointment of Deloitte Huayong Certified Public Accountants as the independent and internal control auditor for 2025, replacing Ernst & Young Hua Ming. Deloitte Huayong's audit fees are set at 2,961,000 yuan (inclusive of tax), marking a 5% reduction from 2024. This includes 2,059,000 yuan for financial report auditing and 902,000 yuan for internal control auditing. The board's Audit and Internal Control Compliance Management Committee had previously approved this appointment, citing Deloitte Huayong's compliance with regulatory requirements and professional capabilities.

To finalize the auditor change, the board approved the convening of the fourth extraordinary general meeting of shareholders for 2025. This meeting will seek shareholder approval for Deloitte Huayong's appointment and other related proposals. The management is authorized to determine the meeting's date and record date, ensuring timely notification to shareholders.