en.Wedoany.com Reported - China Anyang Iron & Steel Co., Ltd. (Anyang Iron & Steel, 600569.SH) announced on June 23, 2026, that the company plans to issue shares to raise a total of no more than 1.5 billion yuan (including this amount), with the net proceeds after deducting issuance expenses to be used to supplement working capital. The target of this issuance is Anyang Iron & Steel Group Co., Ltd., which intends to subscribe for all the shares issued by the company in cash. Anyang Iron & Steel Group Co., Ltd. has signed a conditional share subscription agreement with the company.

Anyang Iron & Steel Co., Ltd., located in Anyang City, Henan Province, is one of the largest steel producers in Henan Province, with an annual production capacity of approximately 10 million tons of crude steel. Its products include medium and heavy plates, hot-rolled coils, cold-rolled coils, section steel, and wire rods. Anyang Iron & Steel Group Co., Ltd. is the controlling shareholder of Anyang Iron & Steel, holding approximately 61.5% of its shares.

The proceeds from this fundraising, used to supplement working capital, will help optimize the company's capital structure, reduce financial risks, enhance the company's financial strength, and provide financial support for the sustainable development of its main business. The steel industry is a capital-intensive sector, requiring substantial working capital to maintain normal production and operations. Upon completion of this private placement, the company's asset-liability ratio will decrease, its financial condition will improve, and its risk resistance and market competitiveness will be enhanced. This issuance is subject to approval by the company's shareholders' meeting and approval by the China Securities Regulatory Commission.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com