Jiangsu Shagang to hold EGM on $4.78 bn related party transactions forecast

Jiangsu Shagang Co., Ltd. (SZSE:002075) announced it will hold its third extraordinary general meeting of shareholders in 2025 on December 26, 2025. The meeting will be held at Shagang Hotel, JinFeng Town, Zhangjiagang City, Jiangsu Province, and will also offer online voting. Shareholders registered by the close of business on December 22, 2025, are eligible to attend and vote.

The primary agenda item for the meeting is the "Proposal on the Forecast of Daily Related Party Transactions for 2026." This proposal, approved by the company's eighth board of directors at its twenty-first meeting on December 10, 2025, projects total related party transactions of up to 4.777 billion yuan. This includes anticipated related party purchases of 2.485 billion yuan and related party sales of 2.292 billion yuan.

These transactions are with Jiangsu Shagang Group Co., Ltd. and its affiliated companies, aiming to leverage resource advantages for raw material procurement and product sales. The company's independent directors unanimously approved the proposal, stating that the transactions are for normal business operations, based on market prices, and do not harm the company or its shareholders.