Chongqing Steel to divest assets to boost cash, competitiveness

Chongqing Iron & Steel Company Limited announced resolutions from its 10th Board of Directors' 23rd meeting, held on December 25, 2025. The board reviewed and approved the third-quarter 2025 comprehensive risk management report, indicating controlled overall risk, with all nine directors voting in favor.

A key decision was the approval to publicly list and transfer a "dual high-speed bar production line asset package" via the Shanghai United Assets and Equity Exchange. The initial transfer floor price is set at CNY 19,544万元, based on the appraised value. The company's management is authorized to adjust the listing price downward based on market interest, provided it remains at least 50% of the asset's appraised value. The final transaction price will be determined by the exchange's bidding results.

This strategic divestment aims to revitalize idle assets, boost cash reserves, and strengthen the company's market competitiveness.