Hesteel's major shareholders increase holdings; plan halfway

Hesteel (SZSE:000709) announced that its controlling shareholders, Handan Iron and Steel Group and Tangshan Iron and Steel Group, have collectively increased their holdings in the company. As of April 7, 2025, they have acquired 67,876,729 shares, representing 0.66% of Hesteel's total share capital. This activity represents approximately half of the initially planned acquisition period. The total investment to date is CNY 151,802,900 (excluding transaction fees), compared to the original plan of CNY 216,000,000 to CNY 432,000,000. Handan Iron and Steel increased its holdings by 34,000,045 shares (0.33% of total share capital) and Tangshan Iron and Steel increased its holdings by 33,876,684 shares (0.33% of total share capital). Hesteel assures investors that the increase reflects confidence in the company's future prospects.