Xining Special Steel adjusts investment, renews credit, forecasts transactions

Xining Special Steel Co., Ltd. has announced an adjustment to its 2025 investment plan, increasing the total investment by 83.096 million yuan to 579.651 million yuan. This adjustment includes adding 12 new projects and one additional investment, totaling 90.796 million yuan, while canceling four projects, reducing investment by 7.7 million yuan. Concurrently, the company is seeking to renew a 500 million yuan comprehensive credit line with Postal Savings Bank of China Qinghai Branch for one year to ensure operational liquidity.

The company also provided a forecast for its 2026 daily related-party transactions, projecting a total of 1,596.09 million yuan with its major shareholders and affiliated companies, including Qinghai State-owned Asset Investment Management Co., Ltd., Western Mining Group Co., Ltd., and Jianlong Group. The board also approved the resignation of Mr. Xu Baoning as a director and strategic committee member due to work changes, with Mr. Ma Cunbao nominated as his replacement. The updated investment plan and 2026 related-party transactions require shareholder approval.