Citic Pacific Special Steel approves 2024 results, profit distribution

Citic Pacific Special Steel Group (SZSE:000708) announced the resolutions passed at its 2024 annual general meeting, which was held on April 10, 2025. All proposed resolutions were approved, including the 2024 Board of Directors work report, the 2024 Supervisory Board work report, the 2024 annual report and its summary, and the 2024 financial results. The proposed 2024 profit distribution plan was also approved. Shareholders also approved the re-appointment of the accounting firm. Additionally, the company received approval to provide guarantees to its joint venture Hubei Zhonghang Metallurgical Steel Co. and related transactions with China Citic Bank. These related transactions, involving shareholders with holdings totalling 83.85% of the company's shares, abstained from voting. Beijing Zhong Lun (Wuhan) Law Firm provided a legal opinion affirming the legitimacy and validity of the meeting's procedures and resolutions.