BYIS(SH:600581) Shang Hai Zheng Quan Bao·2025-10-26 17:49Core Viewpoint - The announcement provides an overview of the financial performance and operational updates of Xinjiang Bayi Steel Co., Ltd. for the first nine months of 2025, highlighting significant production figures and strategic adjustments in investment and governance structure [10]. Financial Performance - The company reported an iron production of 1.46 million tons and steel production of 1.66 million tons for the third quarter, with total sales of 1.65 million tons of finished products [6]. - Cumulatively, for the first nine months of 2025, the company achieved iron production of 3.88 million tons, steel production of 4.37 million tons, and total sales of 4.16 million tons of finished products [6]. Investment Adjustments - The fixed asset investment plan for 2025 has been adjusted from 381.15 million yuan to 211.80 million yuan, a reduction of 169.35 million yuan [10]. - The funding plan was also reduced from 283.51 million yuan to 164.79 million yuan, decreasing by 118.72 million yuan [10]. Governance Changes - The company has decided to cancel the supervisory board, transferring its responsibilities to the audit committee of the board of directors, in compliance with relevant laws and regulations [22]. - The company has revised its articles of association to reflect changes in governance structure and to enhance the obligations of directors and senior management [25]. Strategic Focus - The company emphasizes a strategy of deepening operations in Xinjiang and the Northwest, with a focus on expanding into Tibet and Central Asia, while improving product quality and optimizing resource utilization [6]. - Efforts are being made to enhance production efficiency and cost management, particularly in iron and steel production, to ensure stable and flexible raw material supply [6].