Recently, Baowu Resources' Singapore subsidiary (referred to as "Resources Singapore") and Malaysia's United Steel Group (referred to as "Malaysia United Steel") signed a strategic cooperation agreement for 2025 at the Malaysia-China Kuantan Industrial Park (MCKIP). This signing marks an upgrade in their collaboration since their first partnership in 2024, and both parties will continue to explore diversified cooperation models in the bulk raw material and fuel supply chain. Malaysia United Steel, located in the Malaysia-China Kuantan Industrial Park (MCKIP), a "Two Countries, Twin Parks" project under the Belt and Road Initiative, has an annual production capacity exceeding 3.5 million mt, making it the largest steel plant in Malaysia. Baowu Resources Singapore is a subsidiary of Baowu Resources' marketing and trade division. Strengthening strategic cooperation with a leading steel enterprise in Southeast Asia signifies a solid step forward for the company in steadily expanding its presence in the Southeast Asian market, contributing to further optimizing the international raw material and fuel supply chain network.