Xining Special Steel: Major shareholder equity restructuring announced

Xining Special Steel announced that Wuhu Xinzefeng Industry Investment Partnership, a shareholder holding over 5% of shares, will transfer its entire 14.63% stake (476,135,811 shares) to Qinghai State-owned Assets Investment Management Co., Ltd. for 1,499,827,804.65 yuan. Concurrently, Qinghai Third Construction Engineering Co., Ltd. will transfer its 3.07% stake (100,000,000 shares) to Qinghai State-owned Assets Investment Management Co., Ltd. for 315,000,000.00 yuan, settling a debt through a share-for-debt agreement.

These transactions are part of an internal restructuring by Qinghai State-owned Assets Investment Management Co., Ltd. to optimize its state-owned capital structure and enhance collaborative efficiency. Following these transfers, Qinghai State-owned Assets Investment Management Co., Ltd., which already holds 0.32% (10,413,110 shares), will increase its total direct holding to 18.02% (586,548,921 shares).

Wuhu Xinzefeng Industry Investment Partnership will no longer hold shares, and Qinghai Third Construction Engineering Co., Ltd. will cease to be a shareholder. The equity changes do not affect the company's controlling shareholder or actual controller. The transactions are subject to compliance review by the Shanghai Stock Exchange and registration with China Securities Depository and Clearing Corporation Limited.