Group 1 - The company held its 28th meeting of the 9th Board of Directors on August 12, 2025, via telecommunication voting, with all 8 directors present [2] - The meeting approved the proposal to grant reserved restricted stock to 96 incentive objects, totaling 5.31 million shares at a price of 1.00 yuan per share [3][19] - The meeting also approved the proposal to repurchase and cancel 2.61 million shares of restricted stock from the 2024 incentive plan due to changes in the status of certain incentive objects [50][51] Group 2 - The company reported a production of 4.84 million tons of pig iron and 5.24 million tons of steel in 2024, achieving 99.75% and 96.98% of its production plans, respectively [64] - The company aims to enhance quality and efficiency in 2025, focusing on smart manufacturing and green development while improving its supply chain resilience [66] - The company has established a long-term incentive mechanism, launching a restricted stock incentive plan with a total of 4 million shares, of which 3.3 million shares were initially granted [67][68] Group 3 - The company emphasizes shareholder returns, having distributed cash dividends 21 times since its listing, totaling 1.758 billion yuan, which is 38.07% of its cumulative net profit [69] - The company plans to increase the cash dividend ratio from 10% to 30% of the net profit attributable to shareholders in the upcoming three-year shareholder return plan [69]