Chongqing Iron & Steel: Huabao Investment intends to subscribe for the company's private placement of shares with cash.

Chongqing Iron and Steel Announcement, Huabao Investment Limited intends to subscribe for the A shares of the company to be issued to specific parties in cash. This issuance still needs to be reviewed and approved by the Chongqing Iron and Steel Shareholders' Meeting and Class Shareholders' Meeting, and obtain approval or approval from the relevant regulatory authorities. After being approved by the Shanghai Stock Exchange and registered by the China Securities Regulatory Commission, the acquisition can be implemented. This acquisition will result in Huabao Investment owning more than 30% of the equity in Chongqing Iron and Steel. However, according to the agreement, Huabao Investment undertakes not to transfer the shares it acquires within 36 months from the end of the issuance.