Maanshan Iron & Steel Board Green-lights Transfer of Baowu Water Technology Equity to Capitalise Baowu Environmental Resources

Bulletin Express

May 27

On 27 May 2026, Maanshan Iron & Steel Company Limited held the 52nd meeting of its tenth Board session via communication devices, with all six eligible directors in attendance and statutory procedures duly observed.

The Board approved a proposal for Maanshan Iron & Steel to inject its equity stake in Baowu Water Technology Co., Ltd. into Baowu Group Environmental Resources Technology Co., Ltd., thereby increasing the latter’s registered capital. As the transaction involves related parties, connected directors Jiang Yuxiang and Tang Qiming abstained from voting. The remaining four non-connected directors voted unanimously in favour of the resolution.

The connected-transaction nature of the deal triggered an independent directors’ review; the special meeting of independent directors endorsed the proposal. No opposing or abstaining votes were recorded among the non-connected directors.

The company stated that full details of the transaction are available in a separate announcement dated 27 May 2026 on the HKEXnews website.

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