Valin Steel: major shareholder nears completion of share increase plan

Hunan Valin Steel announced that its major shareholder, Xintai Life Insurance Co., Ltd., has reached the halfway point of its share increase plan. Between September 11, 2025, and December 10, 2025, Xintai Life Insurance acquired an additional 85,086,346 shares through centralized bidding on the Shenzhen Stock Exchange. This represents 1.23% of the company's total share capital, with the total investment amounting to RMB 5.4 yuan.

Following these acquisitions, Xintai Life Insurance now holds a total of 499,604,221 shares, increasing its stake in Hunan Valin Steel from 6.00% to 7.23%. The plan, originally disclosed on September 11, 2025, aimed to increase its holding by 1% to 2% of the total share capital, or between 69,086,400 and 138,172,700 shares.

Xintai Life Insurance affirmed its commitment to continue implementing the remaining part of the share increase plan within the six-month period. The company also confirmed adherence to all relevant regulations and stated that the plan would not trigger a tender offer or alter the company’s control structure.