Angang Steel Company Limited (00347) has entered into a share transfer agreement with Anshan Iron and Steel Group, under which the company will purchase an 80% equity interest in Angang Yingkou Port for approximately 1.01 billion yuan. Established in January 2008, Angang Yingkou Port has a registered capital of 802 million yuan, with Anshan Iron and Steel Group previously holding an 80% stake. As of the announcement date, the remaining 20% of the port company is held by Liaogang Holding (Yingkou) Co., Ltd. Angang Yingkou Port is primarily engaged in port construction, cargo handling services, and the sale of industrial supplies such as tires, steel wire ropes, and lubricants, in addition to warehousing, labor services, and domestic shipping freight agency operations. The acquisition is expected to enhance Angang Steel's profitability by integrating high-quality assets and stable operations from the port subsidiary, strengthening the company's logistics industry chain and operational efficiency. Furthermore, the move will allow Angang Steel to leverage its management expertise, as the port company is already a key client. Post-acquisition, Angang Yingkou Port will become a subsidiary and be consolidated into Angang Steel's financial statements. The transaction is also anticipated to optimize the company's industrial structure, improve supply chain integrity and stability, and deepen regional industrial and supply chain integration, while reducing related-party transactions. The board of directors, including independent non-executive directors, considers the terms of the share transfer agreement to be fair, reasonable, and in the best interests of the company and its shareholders.