Announcement of Lingyuan Iron & Steel, Chaoyang State-owned Assets Supervision and Administration Commission signed the "Free Transfer Agreement" with Ansteel Group, stipulating that Chaoyang State-owned Assets Supervision and Administration Commission will transfer its 7% equity in Lingyuan Iron & Steel to Ansteel Group for free. This transfer has obtained approval from the Chaoyang Municipal People's Government and still requires approval from the State-owned Assets Supervision and Administration Commission of the State Council. Before this transfer, Chaoyang State-owned Assets Supervision and Administration Commission held 41% equity of Lingyuan Iron & Steel, being the actual controller of the company; after this transfer is completed, Ansteel Group will hold 56% equity of Lingyuan Iron & Steel, becoming the actual controller of the company. The controlling shareholder of the company remains the same as Lingyuan Iron & Steel. This transfer complies with the provisions of the "Management Measures for the Acquisition of Listed Companies", and Ansteel Group is exempt from making a tender offer.