CITIC Steel(SZ:000708) Xin Lang Cai Jing·2025-06-26 21:01Group 1 - The company held its 18th meeting of the 10th Board of Directors on June 26, 2025, with all 8 directors present, complying with relevant laws and regulations [2][4]. - The Board approved several resolutions, including amendments to the company's articles of association, which will eliminate the supervisory board and transfer its powers to the audit committee [3][5]. - The Board also approved the amendment of the rules for shareholder meetings, board meetings, information disclosure management, and investor relations management [6][9][12][14]. Group 2 - The company plans to use up to RMB 880 million of idle raised funds for cash management, ensuring it does not affect normal operations or project construction [23][56]. - The cash management will be valid for twelve months and will involve investments in safe and liquid deposit products [58][59]. - The Board and Supervisory Board have both approved this cash management plan, emphasizing that it will enhance fund utilization efficiency without harming shareholder interests [71][72]. Group 3 - A second extraordinary general meeting of shareholders is scheduled for July 15, 2025, to review the resolutions passed by the Board [26][30]. - The meeting will allow for both on-site and online voting, with specific timeframes for participation [33][34]. - The company will ensure that the voting results for minority shareholders are disclosed separately [37]. Group 4 - The company has appointed Mr. Jia Jinghong as a non-independent director, who will also serve on the strategy, risk, and ESG committee after the shareholder meeting's approval [19][22]. - The company has ensured that the number of directors who are also senior management or employee representatives does not exceed half of the total board members [19]. Group 5 - The company has confirmed that the use of idle funds for cash management will not change the purpose of the raised funds and will not affect the normal progress of investment projects [62]. - The management aims to enhance the value of idle funds while ensuring compliance with regulatory requirements [63][65].