Shanghai Banking and Insurance Regulatory Bureau: agree to adjust the equity structure of Baowu Group Finance Co., Ltd

On April 20, the website of Shanghai Banking and Insurance Regulatory Bureau issued the reply on agreeing to adjust the equity structure of Baowu Group Finance Co., Ltd., approving China Baowu iron and Steel Group Co., Ltd. to acquire 20.80% and 0.31% of the equity of Wuhan Iron and Steel Group Co., Ltd. and Baowu group finance Co., Ltd. of Baosteel Development Co., Ltd. After this equity change, the former shareholders of Baowu Group Finance Co., Ltd. WISCO Group Co., Ltd. and Baosteel Development Co., Ltd. no longer hold the equity of Baowu Group Finance Co., Ltd. According to the reply, after the equity change, the registered capital of Baowu Group Finance Co., Ltd. is still 2.6 billion yuan, and the contribution proportions of China Baowu iron and Steel Group Co., Ltd., Baoshan Iron & Steel Co.Ltd(600019) , Wuhan Iron and Steel Co., Ltd. are 43.09%, 36.52% and 20.39% respectively.