Hesteel announces board and senior management reshuffle

Hebei Iron & Steel Company Limited (Hesteel) has announced a series of personnel changes in its board of directors and senior management during August and October 2025. According to reports from bond trustees including CITIC Securities, Huatai United Securities, CITIC Construction Investment Securities, and Everbright Securities, these changes are considered normal operational adjustments that do not adversely affect the company's daily management, production, operations, or debt repayment capacity.

In August 2025, Xie Haishen resigned as a director due to work changes. Zhang Chi was subsequently nominated and elected as a director during the first extraordinary general meeting of shareholders. Further changes occurred in October 2025, with Wang Lanyu resigning as chairman and director, and Xu Bin resigning as general manager, vice chairman, and director. Following these departures, Deng Jianjun was appointed as the new chairman, and Zhang Aimin as the new vice chairman, with their terms aligning with the sixth board of directors.

Additionally, Zhang Aimin stepped down as chief accountant in October 2025. The company's third meeting of the sixth board of directors appointed Zhang Aimin as the new general manager and Wang Baowei as the new chief accountant, also for terms extending to the end of the sixth board. Bond trustees have confirmed they will continue to monitor Hesteel's bond principal and interest payments and other material matters affecting bondholders' interests.