Baosteel and Maanshan Iron & Steel Co., Ltd. (Ma Steel Limited) issued an announcement stating that Baosteel plans to invest CNY 9 billion to acquire a stake in Ma Steel Limited. 

After the completion of this transaction, Ma Steel's equity in Ma Steel Limited will drop from 100% to 51%, and Baosteel will hold 49% of the equity in Ma Steel Limited. 

Ma Steel Limited is a wholly-owned subsidiary of Maanshan Iron & Steel Co., Ltd. (Ma Steel), established in cash on December 23, 2024. Its current business scope includes steel smelting, coking, steel rolling processing, chemical product production and sales, heat production and supply, ferroalloy smelting, etc.