China Iron & Steel announced that the shareholder Wuhu Changmao Investment Center (limited partnership) plans to reduce its holdings by no more than 121,007,072 shares through centralized bidding or bulk transactions within 3 months after 15 trading days from the date of disclosure of the announcement, accounting for 2% of the company's total share capital. Wuhu Changmao's current shareholding ratio is 18.09%. The reason for the reduction in holdings is due to its own capital requirements. This reduction in holdings will not lead to a change in the company's control, nor will it have a significant impact on the company's governance structure and continued operation. There is uncertainty about the specific implementation of the holdings reduction plan, and investors should be aware of the risks.