Beijing Shougang chairman resigns, Everbright Securities reports transition

Everbright Securities, as the bond trustee for Beijing Shougang Company Limited's 2025 green technology innovation corporate bonds, issued an ad hoc report on October 27, 2025, concerning the departure of the company's chairman. Beijing Shougang announced on October 23, 2025, that its chairman and director, Qiu Yinfu, submitted his resignation on October 22, 2025, due to job relocation. His departure is effective immediately.

The company's board of directors, now without Mr. Qiu, remains above the statutory minimum number of members, ensuring the normal operation of the board. This change is not expected to materially impact Beijing Shougang's financial condition, operating results, or debt repayment capabilities. Mr. Qiu did not hold any company shares at the time of the announcement and has completed all necessary work handovers.

The bonds have a five-year term with an interest rate of 1.92% and an issuance size of RMB500m. Interest is paid annually from 2026 to 2030, with principal due at maturity. Everbright Securities will continue to monitor matters affecting bondholders and urges investors to exercise independent judgment regarding relevant risks.