Xinyu Iron & Steel renews financial services, grants restricted shares

Xinyu Iron & Steel Co., Ltd. has announced the renewal of its "Financial Services Agreement" with Baowu Group Finance Co., Ltd., a related party. The three-year agreement facilitates deposit, loan, and foreign exchange settlement services, with a daily maximum deposit of RMB 300m and a daily maximum loan of RMB 200m. Deposit interest rates range from 0.05% to 1.15%, and loan interest rates from 2.11% to 2.4%. This transaction, aimed at optimizing financial management and reducing financing costs, requires shareholder approval.

In a separate announcement, Xinyu Iron & Steel completed the initial grant of its A-share restricted stock incentive plan. On October 31, 2025, 1.48 million restricted shares were granted to nine eligible incentive recipients, including vice general manager and CFO Hu Jing, at a price of RMB 2.14 per share. This allocation represents 0.0465% of the total share capital, with 400,000 shares for Hu Jing and 1.08 million for eight other core employees.

The registration of these restricted shares was finalized on December 10, 2025. The capital raised from the share issuance, totaling RMB 3,167,200.00, will supplement the company's operating funds. This restricted stock grant will increase the company's total share capital to RMB 3,184,022,149.00 and is projected to incur a total expense of RMB 304.88万元 over several years, impacting the company's financial results from 2025 to 2029.