Anyang Steel to pursue financial restructuring, asset sales ahead of 2025 meeting

Anyang Iron & Steel Group Co. Ltd. will hold its fourth extraordinary general meeting on November 26, 2025, to address several key financial proposals. The company plans to provide guarantees totaling up to yuan 100m for its controlling subsidiary, Henan Anyang Iron & Steel Zhoukou Iron & Steel Co. Ltd., for a finance lease. Additionally, Anyang Steel will offer a guarantee of up to yuan 100m for Henan Anyang Iron & Steel Southern Electromagnetic New Materials Technology Co. Ltd.'s finance lease.

A significant agenda item is the proposed sale of 78.1372% equity in Angang Group Yongtong Ductile Iron Pipe Co. Ltd. and 100% equity in Anyang Yuhe Yongtong Pellet Co. Ltd. to its controlling shareholder, Anyang Iron & Steel Group Co. Ltd., for a total of yuan 836.6504m. This transaction will result in the company no longer holding equity in these subsidiaries, leading to a related-party guarantee of up to yuan 110m for Angang Group Yongtong Ductile Iron Pipe Co. Ltd.'s finance lease.

Furthermore, Anyang Steel seeks approval for a comprehensive bank credit line of up to yuan 26bn and a trust loan of up to yuan 400m from CITIC Trust Co. Ltd. The company also intends to engage in floating mortgages for the purchase of imported iron ore, with a cooperation limit of up to yuan 300m.