CITIC Pacific Steel announced that it recently received a notice from CITIC Pacific, the indirect controlling shareholder, that the change in its shareholding structure has been completed. CITIC Pacific used a portion of Wanfu Investment's shares as consideration to purchase 100% of their shares in Shangkang International and Changyue Investment. Wanfu Investment bought back that portion of the shares and cancelled them. On November 7, the share repurchase was completed, and Wanfu Investment no longer indirectly holds shares in the company. After this transaction, the controlling shareholders and actual controllers of the company remained unchanged, which did not affect independence and continued operation, and had no significant impact on daily operations.

CITIC Pacific Steel announced that it recently received a notice from CITIC Pacific, the indirect controlling shareholder, that the change in its shareholding structure has been completed. CITIC Pacific used a portion of Wanfu Investment's shares as consideration to purchase 100% of their shares in Shangkang International and Changyue Investment. Wanfu Investment bought back that portion of the shares and cancelled them. On November 7, the share repurchase was completed, and Wanfu Investment no longer indirectly holds shares in the company. After this transaction, the controlling shareholder and actual controller of the company remained unchanged, which did not affect independence and continuous operation, and had no significant impact on daily operations.