Jiangsu Shagang board approves 2026 related party transactions

Jiangsu Shagang announced resolutions from its 21st meeting of the eighth board of directors, held on December 10, 2025, approving the estimated daily related party transactions for 2026. The company and its subsidiaries anticipate total daily related party transactions not exceeding 4.777 bn yuan for 2026, comprising estimated purchases of 2.485 bn yuan and estimated sales of 2.292 bn yuan.

The board also approved the convening of the third extraordinary general meeting for 2025 on December 26, 2025, at 2:30 PM. This meeting will consider the 2026 related party transaction estimates. Two interested directors, Ji Yongxin and Qian Zheng, abstained from voting on the related party transactions, which were then unanimously approved by the non-affiliated directors. Independent directors had previously approved the proposal on December 9, 2025.

These transactions are deemed normal business operations, aimed at leveraging the parent company's resources to reduce raw material procurement costs and enhance overall economic efficiency. The pricing will adhere to market principles, ensuring fairness and transparency, and is not expected to negatively impact the company's independence or the interests of its shareholders, particularly small and medium investors.