Citic Special Steel: wholly-owned subsidiary "Xingcheng Special Steel" plans to contribute 500 million yuan to participate in the investment "Peng Heng Investment"

SMM News: Citic Pacific Special Steel Group Co., Ltd. according to the needs of business development, Jiangyin Xingcheng Special Steel Co., Ltd. (hereinafter referred to as "Xingcheng Special Steel"), a wholly owned subsidiary of the company, plans to contribute 500 million yuan to Jinshi Investment Co., Ltd. (hereinafter referred to as "Jinshi Investment"), CITIC Securities Investment Co., Ltd. (hereinafter referred to as "CITIC Investment"), three Gorges Jinshi (Wuhan) Equity Investment Base Gold Partnership (Limited Partnership) (hereinafter referred to as "three Gorges Goldstone Fund"), Shenzhen Dingxin Private Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Shenzhen Dingxin"), Ningbo Hanhai Qianyuan Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Hanhai"), Beijing Xinyin Hengtai Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Beijing Xinyin") jointly invests Jiaxing Jinshi Peng Heng Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Peng Heng Investment"), The partnership agreement is scheduled to be signed in July. Peng Heng Investment will, according to the needs of the company, invest in objects that meet the requirements of the company, and promote the company to achieve high-quality and sustainable development.

Peng Heng invested 1.4846569 billion yuan, Xingcheng Special Steel contributed 500 million yuan as limited partner, China Securities Investment contributed 276.6931 million yuan as limited partner, three Gorges Gold and Stone Fund contributed 101.1362 million yuan as limited partner, Shenzhen Dingxin contributed 202.2725 million yuan as limited partner, Ningbo Hanhai contributed 202.2725 million yuan as limited partner, Beijing Xinyin contributed 202.2725 million yuan as limited partner. Jinshi Investment contributed 10,000 yuan as a general partner. Jinshi Investment and CITIC Investment are subordinate enterprises of China CITIC Group Co., Ltd. (hereinafter referred to as "CITIC Group"), which is the actual controller of the company.

According to the second paragraph of 10.1.3 of the Stock listing rules of Shenzhen Stock Exchange, this transaction constitutes a related party transaction. The transaction was approved by the third meeting of the Ninth Board of Directors of the company by 3 votes, 0 votes against, and 0 abstention. Qian Gang, Guo Wenliang, Luan Zhenjun, Guo Jiahua, Li Guozhong and Wang Wenjin, affiliated directors of the company, avoided voting on this motion. The independent directors of the company agreed in advance and expressed their agreed independent opinions on this related party transaction. This proposal does not need to be submitted to the general meeting of shareholders for consideration. This related party transaction does not constitute a major asset reorganization as stipulated in the measures for the Administration of Major Asset reorganization of listed companies, nor does it constitute a reorganization and listing, nor does it need to be approved by the relevant departments.

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