Xining special steel shareholders approve private placement plan

Xining Special Steel Company Limited held its Fourth Extraordinary General Meeting of Shareholders on October 16, 2025, with 661 A-shareholders representing 66.6847% of total voting shares in attendance. All agenda items, including the proposed private placement of A-shares, were approved with a high majority.

Key resolutions passed include the company's eligibility for the private placement, the types and par value of shares, issuance method and timing, subscriber and subscription methods, pricing base date, issue price, and pricing principles. All these proposals garnered strong support, with over 99% of A-share votes in favor and minimal opposition or abstentions.

Further approvals were granted for the number of shares to be issued, the amount and use of raised funds, the lock-up period, listing location, and arrangements for undistributed profits before the issuance. Shareholders also authorized the board of directors to handle all specific matters related to this private placement and waived the controlling shareholder's obligation to make a tender offer.