Ba Yi Steel expands financial strategy with new agreements

Xinjiang Ba Yi Iron & Steel (Ba Yi Steel) announced a financial services agreement with Baowu Group Finance Co., a related party. This agreement, valid until December 31, 2026, optimizes financial management, enhances capital efficiency, and reduces financing costs through deposit, loan, and settlement services. Rates will be benchmarked against market conditions to ensure fairness.

Additionally, Ba Yi Steel plans to apply for new related party loans up to 2.5 billion yuan from its controlling shareholder, Ba Yi Steel Group, and its subsidiaries. These loans, extended from December 2025 to March 2026, will support operational turnover and project construction with an interest rate 10% lower than the company’s comprehensive financing cost.

To further strengthen risk management, Ba Yi Steel will purchase Directors' and Officers' Liability Insurance (D&O insurance) for the company and its executives, with a maximum compensation of 100 million yuan. The company also announced the re-appointment of Tianjian Certified Public Accountants as its auditor for 2025, with an audit fee of 1.82 million yuan, pending shareholder approval.