On October 10th, Ge Longhui reported that Sinosteel New Materials (002057.SZ) announced that the company recently received a notification from shareholder Sinosteel Corporation. Sinosteel Corporation and its wholly-owned subsidiary Sinosteel Capital have signed a "Share Transfer Agreement" for no consideration, where Sinosteel Corporation plans to transfer 9,900,000 shares of the company (1.31% of the total shares) to its wholly-owned subsidiary Sinosteel Capital. On October 8, 2024, China Baowu Steel Group Co., Ltd. issued a "Approval on the transfer of Sinosteel Group and its subsidiary's equity in Sinosteel Engineering & Technology and Sinosteel New Materials to Sinosteel Capital," approving the transfer.

Before this no-cost transfer, Sinosteel Capital directly held 123,345,380 shares of the company, accounting for 16.26% of the total shares. After this no-cost transfer, Sinosteel Capital directly holds 133,245,380 shares of the company, accounting for 17.57% of the total shares. This no-cost transfer will not result in any changes to the controlling shareholders and actual controllers of the company. After this no-cost transfer, the controlling shareholder of the company remains Sinosteel Capital, and the actual controller remains the State-owned Assets Supervision and Administration Commission of the State Council. The total number of shares held by Sinosteel Capital and its concerted parties has not changed.