Angang Steel's major shareholder plans to increase holdings

Angang Steel announced that its controlling shareholder, Angang Steel Group, plans to increase its holdings of the company's A-shares. The decision reflects confidence in Angang Steel's future development and valuation, with the aim of safeguarding shareholder value and investor interests. Angang Steel Group intends to increase its A-share holdings through centralized competitive trading within six months of the official decision date. The total capital earmarked for the increase ranges from CNY 10,000 to CNY 20,000 million. The company said that Angang Steel Group is progressing through internal decision-making procedures for the matter, and will notify the company again once the procedures are complete. The company pledged to fulfill its information disclosure obligations promptly upon receiving the official plan.