Maanshan Iron & Steel Company Limited has published a comprehensive “Quality Improvement, Efficiency Enhancement and Return Maximisation” action plan for 2026, detailing cost-control measures, product-mix upgrades, governance enhancements and investor-oriented initiatives. Key elements are summarised below.

1. Operational Quality • Full-chain cost control will address four main areas—iron-making upstream, energy, logistics and product quality—to establish a low-cost competitive edge. • Efficiency upgrades will focus on capital, asset, manpower and operational metrics through the “Three Reductions and Three Improvements” programme. • Core management systems covering capability building, compliance, safety and environmental protection will be reinforced to underpin performance gains.

2. Development of New Quality Productive Forces • Two subsidiaries, Magang Limited and Anhui Changjiang Steel, are the focal points for technological and product innovation. – Magang Limited plans to lift its R&D investment ratio to 4.5%, target sales of 1.67 million tonnes of newly trial-produced products and generate RMB400.00 million in excess gross profit. – Domestic sales of high-speed railway wheels are expected to exceed 3,000 pieces, while new aluminium-silicon hot-stamped steel, high-end pressure-vessel plates, ship plates, energy steel and extra-large H-section steel will expand the premium portfolio. – Changjiang Steel aims to sell no fewer than 400,000 tonnes of high-strength steel.

3. Corporate Governance • A Board Diversity Policy, a revised director remuneration system linked to performance and risk control, and an ESG Enhancement Plan will be introduced to strengthen governance effectiveness.

4. Accountability of the “Key Minority” • Performance-linked remuneration for senior management and targeted training will integrate operating results, risk management and reform objectives, ensuring alignment with the 2026 targets.

5. Shareholder Returns • Profit distribution will be formulated with a view to maximising shareholder interests, and the company will periodically review its Valuation Enhancement Plan while responding promptly to market rumours.

6. Investor Communications • The company pledges timely, accurate disclosures via the Shanghai and Hong Kong stock exchanges and will host at least three online results briefings annually. Enhanced e-meeting tools will facilitate minority shareholder participation in general meetings.

The company emphasises that the plan reflects current conditions and may be adjusted in response to market or policy changes; investors are advised to consider potential risks accordingly.