Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (00323.HK) has signed a capital reduction agreement with Baowu Water and 18 other shareholders, reducing its stake in Baowu Water from 14.977% to 3.151% through a capital reduction of RMB 53,838.22 million, aimed at improving operational efficiency and effectiveness [1]. Group 1 - The capital reduction involves three shareholders, including Maanshan Iron & Steel, while the other sixteen shareholders will not participate in the reduction [1]. - The capital reduction is intended to enhance the operational efficiency and effectiveness of Maanshan Iron & Steel, without significantly impacting its daily operations and financial status [1]. - Following the capital reduction, Maanshan Iron & Steel will possess water assets closely related to its production, which is expected to lower operational costs and improve production stability [1]. Group 2 - As of the announcement date, Maanshan Group holds approximately 48.20% of the company's issued share capital and is the controlling shareholder, while China Baowu is the controlling shareholder of Maanshan Group, collectively holding about 52.999% of the shares [1]. - The ultimate beneficial owners of Maanshan Limited, Baowu Water, and the other sixteen shareholders prior to the capital reduction are all ultimately owned by China Baowu [1].

Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (00323) has signed a capital reduction agreement with Baowu Water and eighteen other shareholders, aiming to enhance operational efficiency and effectiveness through a reduction of RMB 538 million [1] Group 1: Capital Reduction Details - The capital reduction involves three shareholders, including Maanshan Iron & Steel, while the other sixteen shareholders will not participate in the reduction [1] - Maanshan Iron & Steel's equity stake in Baowu Water will decrease from 14.977% to 3.151% following the capital reduction [1] Group 2: Operational Impact - The capital reduction is intended to improve Maanshan Iron & Steel's operational efficiency and will not significantly impact its daily operations and financial status [1] - By acquiring the circulating water assets related to its production, Maanshan Iron & Steel aims to lower operational costs and enhance production stability and synergy [1]

Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (00323) has signed a capital reduction agreement with Baowu Water and eighteen other shareholders, reducing its stake in Baowu Water from 14.977% to 3.151% through a capital reduction of RMB 538 million [1] Group 1: Capital Reduction Details - The capital reduction involves three shareholders, including Maanshan Iron & Steel, while the other sixteen shareholders will not participate in the reduction [1] - The capital reduction is aimed at enhancing the operational efficiency and effectiveness of Maanshan Iron & Steel [1] Group 2: Impact on Operations - The capital reduction will not significantly impact the daily operations and financial status of Maanshan Iron & Steel [1] - By retaining water assets closely related to its production, Maanshan Iron & Steel aims to lower operational costs and improve production stability [1]