Meeting Overview - The shareholders' meeting was held on December 23, 2025, at the company's headquarters in Harbin, Heilongjiang Province [1] - The meeting was convened by the board of directors and utilized a combination of on-site and online voting, complying with the Company Law and the company's articles of association [1] Attendance - Out of 9 current directors, 8 attended the meeting, with one director absent due to work commitments [2] - The company secretary and some senior management personnel were also present [2] Agenda and Resolutions - The following proposals were reviewed and approved: 1. Revision of the company's profit distribution system [3] 2. Revision of the company's investment management regulations [3] 3. Proposal to provide entrusted loans to a controlling subsidiary [4] 4. Adjustment of the company's investment plan for 2025 [4] 5. Anticipated routine related-party transactions for 2026 [4] - All proposals were ordinary resolutions and passed with more than half of the valid voting shares [4] Voting and Related Transactions - Proposals 2 and 4 involved related-party transactions with the actual controller, China Huadian Corporation, and the controlling shareholder, Huadian Coal Industry Group Co., Ltd., which abstained from voting [4] - The voting results were separately counted for minority investors [4] Legal Verification - The meeting was witnessed by Heilongjiang Borun Law Firm, confirming that the convening and proceedings of the meeting complied with relevant laws and regulations [4]

Core Viewpoint - China Steel International (中钢国际) has announced a mid-term adjustment to its 2025 investment plan, which was approved by the board on October 17, 2025, without the need for shareholder meeting approval [1]. Investment Plan Adjustments - Total long-term equity investment projects have been adjusted from 124.00 million to 122.72 million, reflecting a decrease of 1.28 million [2]. - Total fixed asset investment projects have increased from 4,976.46 million to 6,362.50 million, showing an increase of 1,386.04 million [2]. - Specific project adjustments include: - The establishment of a subsidiary in Guinea has a revised investment of 122.72 million, unchanged from the previous plan [2]. - The information technology project for subsidiaries has been adjusted from 1,247.00 million to 1,282.00 million, an increase of 35.00 million [2]. - The zero-solid project for subsidiaries has decreased from 3,019.46 million to 2,920.50 million, a reduction of 98.96 million [2]. - The conventional infrastructure renovation project for subsidiaries has increased significantly from 710.00 million to 2,160.00 million, an increase of 1,450.00 million [2]. Financial Performance - In the mid-term of 2025, China Steel International reported revenues of 6.745 billion and a net profit attributable to shareholders of 424 million [2].

Core Points - The company appointed Ms. Huang Meihua as the securities affairs representative to assist the board secretary in fulfilling various responsibilities [1][7] - The board meeting was held on September 29, 2025, with all 8 directors present, and the meeting complied with relevant regulations [4] - The board approved adjustments to the 2025 investment plan due to actual needs, market changes, and strategic adjustments [5] - The board approved the investment in optimizing and automating the logistics warehouse at the Zhanjiang base, which aims to enhance storage capacity and efficiency [5] - The board revised the internal control defect identification standards to include qualitative criteria based on the severity and potential impact of business nature [5] - The board developed a plan to standardize the construction and implementation of the board of directors for the company and its subsidiaries [6] - Ms. Huang Meihua's qualifications include a bachelor's degree in economics and previous experience in securities affairs [9]

Core Points - The company proposes to cancel the supervisory board and transfer its responsibilities to the audit committee under the board of directors to enhance governance structure and decision-making efficiency [1][2] - The company plans to revise its articles of association and meeting rules for shareholders and directors to align with the latest regulations and improve operational standards [2][4][5] - The company has completed the acquisition of 100% equity of China COSCO Shipping Passenger Transport Co., Ltd. and is seeking financing for this acquisition through a combination of self-funding and bank loans [5][6] - The company anticipates an increase in daily related transactions for 2025, adjusting the expected total to 1.235 billion yuan, reflecting the integration of the newly acquired subsidiary [9][10] - The company has outlined a revised investment plan for 2025, with a total investment of 10.143 billion yuan, including new projects and adjustments to existing ones [14] - The company intends to purchase liability insurance for its directors and senior management to enhance risk management and protect their rights [15] Governance Structure - The supervisory board will be abolished, with its functions assumed by the audit committee to streamline governance [1] - The articles of association will be revised to reflect the new governance structure and enhance operational compliance [2] - The rules for shareholder and board meetings will be updated to align with regulatory requirements and improve governance practices [2][4][5] Financial and Investment Plans - The acquisition of China COSCO Shipping Passenger Transport Co., Ltd. was completed for 2.515 billion yuan, with a financing plan involving 1.509 billion yuan in bank loans [5][6] - The expected daily related transactions for 2025 have been adjusted to 1.235 billion yuan, incorporating the newly acquired subsidiary's operations [9][10] - The revised investment plan for 2025 includes 97 projects with a total investment of 10.143 billion yuan, reflecting an increase from the initial plan [14] Risk Management - The company plans to purchase liability insurance for its directors and senior management to strengthen its risk management framework [15]