Fangda Special Steel Technology (600507.SH) controlling shareholder plans to increase its shareholding by 0.55 billion to 1.1 billion yuan and receive up to 1 billion yuan in additional loans.

Fangda Special Steel Technology (600507.SH) announced that its controlling shareholder, Jiangxi Fangda Steel Group Co., Ltd. (referred to as "Fangda Steel"), plans to increase its stake in the company within 6 months from the date of this announcement. The planned amount of the share increase will be no less than RMB 55 million and no more than RMB 110 million, with the share increase proportion not exceeding 2% of the total share capital of the company. In addition, Fangda Steel has received a "Loan Commitment Letter" from the Nanchang branch of Shanghai Pudong Development Bank. According to the notice on the establishment of stock repurchase and re-lending by the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission, Shanghai Pudong Development Bank intends to provide a loan to Fangda Steel specifically for supporting its increase in Fangda Special Steel Technology's stock. The loan amount will not exceed RMB 100 million, with a term of three years, and the "Loan Commitment Letter" is valid until August 19, 2025. In addition to the above-mentioned loan, the remaining funds for this share increase plan will come from Fangda Steel's own funds.