Baotai Steel was fined for violating disclosure regulations.

On January 30th, Baosteel Group announced that the company, its controlling shareholder, and related parties received an "Administrative Penalty Decision" issued by the Xinjiang Securities Regulatory Bureau. It was found that from 2022 to 2024, Baosteel Group had non-operating fund transactions with its controlling shareholder Xinjiang Baosteel Group Co., Ltd. and its affiliates, which were not disclosed in a timely manner and not included in the corresponding annual reports, resulting in significant omissions in the periodic reports. The Xinjiang Securities Regulatory Bureau decided to order Baosteel Group to correct the situation, issue a warning, and impose a fine of 3 million yuan; order the controlling shareholder Eight Steel Group to correct the situation, issue a warning, and impose a fine of 4 million yuan. At the same time, former Chairman Wu Bin was fined a total of 3.5 million yuan, current Chairman Ke Shanliang was fined 1 million yuan, former Chief Accountant and Board Secretary Fan Guokang and current Director and General Manager Liu Wenzhuang were each fined 1.5 million yuan.