Chongqing Steel board approves investment plan adjustments, executive compensation

Chongqing Iron & Steel Company Limited announced resolutions from the 21st meeting of its tenth board of directors, held on December 12, 2025. All nine directors approved adjusting the 2025 investment plan, citing current operational realities. The board's Strategy and ESG Committee had previously reviewed and approved this proposal.

Additionally, the board sanctioned the 2024 year-end payroll clearance and the 2025 payroll budget, confirming compliance with relevant regulations. This resolution also received unanimous approval.

A significant decision involved the 2024 performance evaluation and compensation settlement for the management team. This item was reviewed and approved by the board's Remuneration and Assessment Committee. Due to a conflict of interest, director Kuang Yunlong recused himself from this vote, which subsequently passed.