CITIC (00267) announced that on June 17, 2024, Nanjing Iron and Steel Co., Ltd. (Nanjing Steel, 600282.SH) received a notice from Taifukete Steel (Jiangsu) Co., Ltd. (Jiangsu Tegang) that Hubei Xinye Steel Co., Ltd. (Xinye Steel), a controlling shareholder of Nanjing Steel Group Co., Ltd. (Nanjing Steel Group), signed an equity transfer agreement with Jiangsu Tegang, intending to transfer its 55.2482% stake in Nanjing Steel Group to Jiangsu Tegang (this transaction). After the completion of this transaction, Jiangsu Tegang will become the controlling shareholder of Nanjing Steel Group, and will hold a total of 59.10% of the company through Nanjing Nangang Iron and Steel Joint Co., Ltd. (Nanjing Steel Union) and its wholly-owned subsidiary Nanjing Nangang Union Iron and Steel Co., Ltd. (Nanjing Steel Union). New Yegang, a concerted action with Jiangsu Tegang, directly holds 3.66% of the company's shares.

This transaction is a structural adjustment of equity in the indirect controlling shareholder of the company carried out by CITIC Group Co., Ltd. (CITIC Group), in order to implement national strategy, deepen cooperation between the central and local governments, and achieve win-win development. The controlling shareholder of the company remains Nanjing Steel Union, and the actual controller remains CITIC Group, with no changes in the controlling shareholder or actual controller of the company.