Shougang Changzhi Steel&Iron Co.,Ltd agreed to acquire 9% stake in Guizhou Shouqian Resources Development Co., Ltd. from Guizhou Panjiang Refined Coal Co.,Ltd. (SHSE:600395) for approximately CNY 110 million on May 28, 2024. A cash consideration of CNY 111.5 million will be paid by Shougang Changzhi Steel&Iron Co.,Ltd. As part of consideration, CNY 111.5 million is paid towards common equity of Guizhou Shouqian Resources Development Co., Ltd. The deal has been approved by the Board of Directors of Guizhou Panjiang Refined Coal Co.,Ltd.

Shougang Changzhi Steel&Iron Co.,Ltd completed the acquisition of 9% stake in Guizhou Shouqian Resources Development Co., Ltd. from Guizhou Panjiang Refined Coal Co.,Ltd. (SHSE:600395) on June 12, 2024.