CITIC Special Steel: CITIC Group will transfer 100% equity of three subsidiaries, including Changyue Investment, to CITIC Pacific.

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CITIC Special Steel Announcement: CITIC Group’s subsidiary CITIC Limited plans to purchase 100% equity interests in Changyue Investment, Shangkang International, and Yinglian Steel from CITIC Pacific. Before the transaction, CITIC Group indirectly controlled 83.85% of the company through its subsidiaries, TFI Investment, Hubei Xinye Steel, and TFI Zhongtou. After the transaction, the ownership structure of the company changes, but the total indirect shareholding remains the same, still held through controlling subsidiaries TFI Investment, Hubei Xinye Steel, and TFI Zhongtou, totaling 83.85%. The company’s controlling shareholder and actual controller remain unchanged; the controlling shareholder is still TFI Investment, and the actual controller remains CITIC Group. CITIC Pacific is no longer the company’s indirect controlling shareholder.

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