CHONGQING IRON (01053) Plans to Issue 1 Billion Yuan Shares to Huabao Investment

Stock News2025-12-19

CHONGQING IRON (01053) announced that its 22nd meeting of the 10th Board of Directors, held on December 19, 2025, approved the proposal for a private placement of A-shares in 2025. The company signed a Share Subscription Agreement with Huabao Investment Co., Ltd., the designated subscriber, on the same day. Huabao Investment intends to subscribe to the shares in cash.

The total proceeds from the issuance are expected not to exceed 1 billion yuan (inclusive), which will be fully allocated to replenish working capital and repay bank loans after deducting related issuance expenses. The final fundraising amount is subject to approval by relevant regulatory authorities. Huabao Investment plans to subscribe for the full 1 billion yuan.

Huabao Investment and CHONGQING IRON's controlling shareholder, Changshou Iron & Steel Co., Ltd., are both under the control of China Baowu Steel Group, making Huabao Investment a related party. This issuance constitutes a connected transaction.

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