Ba Yi Iron & Steel buyback boosts controlling shareholder's stake

Xinjiang Ba Yi Iron & Steel Co., Ltd. has completed the buyback and cancellation of 5,793,600 restricted shares, reducing the company's total share capital from 1,538,691,470 shares to 1,532,897,870 shares.

Consequently, the controlling shareholder, Xinjiang Ba Yi Iron & Steel Group Co., Ltd., saw its ownership stake passively increase from 49.83% to 50.02%. The number of shares held by the controlling shareholder remains unchanged, indicating this is a passive adjustment due to the reduced total share capital.

The company confirmed this equity change will not alter the controlling shareholder or actual controller, nor will it impact the corporate governance structure or ongoing operations. Xinjiang Ba Yi Iron & Steel will proceed with necessary industrial and commercial registration and articles of association filings.