Shandong Iron & Steel schedules vote on 2026 connected transactions

Shandong Iron and Steel Company Limited has released its estimated daily connected transactions for 2026, projecting related party sales of goods and services at CNY 14.742 bn and procurement of raw materials, fuel, power, and services at CNY 19.749 bn. These projections follow a review of 2025 performance, where actual related party sales are expected to reach CNY 18.336 bn and related party procurement is anticipated to be CNY 28.030 bn. The decreases are attributed to factors like the acquisition of Laiwu Steel Group Yinshan Section Steel Co., Ltd. equity and lower-than-expected procurement.

The company's board of directors, following approval from independent directors, has passed the resolutions concerning the 2025 connected transaction execution and 2026 transaction plan. These resolutions will be submitted for approval at the 2025 Fourth Extraordinary General Meeting of Shareholders, scheduled for December 26, 2025, at 10:30 AM in Jinan, Shandong. Key connected parties, including Shandong Iron and Steel Group Co., Ltd. and Laiwu Steel Group Co., Ltd., are expected to abstain from voting on the resolution.

Shareholders can participate in the vote either in person at the company's headquarters or through the Shanghai Stock Exchange's online voting system. The company confirms that these routine connected transactions are essential for normal operations, aim to maximize economic benefits through specialized collaboration and resource allocation, and are conducted under fair and transparent principles without adverse effects on the company's financial health or shareholder interests.