Angang Steel (00347) completed the cancellation of restricted stock repurchases totaling 14.18 million A shares.

Angang Steel (00347) announced that for the third tranche of the unlocking period, the company's performance assessment did not meet the standards. The company will repurchase and cancel a total of 14.18 million restricted shares held by 183 incentive recipients at a lower of either the grant price or market price (including 12.6976 million shares from the initial grant and 1.4825 million shares from the reserved grant). The repurchase price for the initial grant portion is 1.85 yuan per share, and for the reserved grant portion is 2.03 yuan per share. The company repurchased and cancelled a total of 14.18 million restricted shares in this transaction. The total repurchase amount paid by the company for the restricted shares was 26.4999 million yuan, all of which were from the company's own funds. After being audited and confirmed by the Shenzhen branch of China Securities Depository and Clearing Corporation Limited, the repurchase and cancellation was completed on February 28, 2025. As of February 28, 2025, a total of 14.18 million A shares of restricted shares were repurchased and cancelled. The company's total number of shares decreased from 9.383 billion shares to 9.369 billion shares.