Valin Steel: Major shareholder increases stake to five percent

Hunan Valin Steel announced that信泰人寿 Insurance has increased its stake in the company to 5.00%, totaling 345,431,662 shares. The acquisition was made through the secondary market trading system. 信泰人寿 Insurance cited optimism about Valin Steel's development prospects and value as the reason for the increased investment, intending to increase its influence and share in the company’s long-term growth. The shareholder may increase their holdings, and will ensure that future equity changes are disclosed in accordance with regulations. The funds for the purchase came from the insurer’s traditional insurance policy reserves, with its overall reserves currently at CNY 2030.49 billion. In the six months prior to this announcement, 信泰人寿 Insurance has engaged in several transactions of Valin Steel shares, including both purchases and sales. As of the report's signing date, 信泰人寿 Insurance has fully disclosed the necessary information regarding this equity change and will continue to fulfill its information disclosure obligations.