Angang Steel (00347) plans to acquire 80% equity of Angang Yingkou Port Terminal for 1.01 billion yuan.

Angang Steel (00347) announced that on March 30, 2026, the company entered into a share transfer agreement with Anshan Iron and Steel. Under this agreement, Anshan Iron and Steel agreed to sell, and the company agreed to acquire an 80% stake in Ansteel Yingkou Port held by Anshan Iron and Steel, for a price of 1.01 billion RMB. Ansteel Yingkou Port was established in the People's Republic of China in January 2008 with a registered capital of 802 million RMB, of which Anshan Iron and Steel invested 641 million RMB, accounting for 80% of the registered capital. As of the date of this announcement, Ansteel Yingkou Port is 80% owned by Anshan Iron and Steel and 20% owned by Liaogang Holdings (Yingkou) Co., Ltd. Ansteel Yingkou Port is mainly engaged in port engineering construction, handling services, tire, wire rope, steel strip, lubricant sales, warehousing, labor services, and domestic shipping and freight forwarding services. The acquisition of Ansteel Yingkou Port by the company is beneficial for several reasons. Firstly, it will enhance the company's profitability as Ansteel Yingkou Port has quality assets and stable operations with strong port logistics service capabilities and profitability potential. This will help expand the company's logistics industry chain development potential and increase its profit level. Secondly, it will leverage the company's management advantages as the company is currently the main customer of Ansteel Yingkou Port. After the completion of the acquisition, Ansteel Yingkou Port will become a subsidiary of the company and be included in the company's financial statements for comprehensive calculation. Thirdly, it will optimize the industrial structure, increase the completeness and stability of the company's supply chain, further deepen the integrated cooperation of regional industrial chains and supply chains, and reduce related transactions for the company. The directors (including independent non-executive directors) believe that the terms of the share transfer agreement are fair and reasonable, entered into on normal commercial terms or better, and are in the overall interest of the company and all shareholders.