SGIS Songshan sells hydrogen technology stake, schedules investor briefing

Guangdong Zhongnan Steel Co., Ltd. (SGIS Songshan) announced the completion of the transfer of 24.5% equity in Guangdong Baohong Technology Co., Ltd. This follows a series of public listings initiated on January 21, 2025, with a base price of 20,695,300 yuan, and a subsequent 10% price reduction on April 25, 2025, due to a lack of initial bidders.

The equity was acquired by a consortium comprising Guangdong Yuntao Hydrogen Energy Technology Co., Ltd., Guangzhou Baiyun New Energy Technology Co., Ltd., and Guangzhou Yunling Investment Co., Ltd., with the transaction closing on July 11, 2025, and funds received by July 18, 2025. Following the completion of industrial and commercial registration changes, SGIS Songshan’s stake in Baohong Technology has decreased from 49% to 24.5%.

In a separate announcement, SGIS Songshan confirmed its participation in the "2025 Guangdong-area Investors' Collective Reception Day and Listed Company Interim Report Performance Briefing" on September 19, 2025, from 15:30 to 17:00, accessible via the Panorama Roadshow website.