Jiangsu Shagang actively manages idle funds with wealth management products

Jiangsu Shagang Co., Ltd. announced that it and its controlled subsidiaries purchased wealth management products totaling 1.97bn yuan. This follows a resolution passed at the Eighth Board of Directors' Seventeenth Meeting and the 2024 Annual General Meeting, which approved the use of up to 8bn yuan in idle self-owned funds for investment management. The authorized period for these investments extends from the date of the 2024 Annual General Meeting approval until the 2025 Annual General Meeting.

Concurrently, the company and its controlled subsidiaries redeemed previously purchased wealth management products amounting to 2.16bn yuan during July to September 2025. These redemptions generated a total return of 56.67m yuan, all of which has been received on schedule. As of the announcement date, the total outstanding balance of unredeemed wealth management products purchased within the approved limits is 6.3bn yuan.

The company stated that its investment in wealth management products, utilizing idle self-owned funds, is implemented while ensuring daily operations and fund security. Management has carefully assessed existing business activities and arranged necessary funds, thus mitigating any adverse impact on ongoing production and operations. This strategy aims to enhance capital utilization efficiency and increase company returns.