en.Wedoany.com Reported - China Chongqing Iron & Steel Co., Ltd. has recently released a series of major announcements regarding personnel, capital, and capacity transformation, initiating a new round of structural optimization under the Baowu synergy system. At the governance level, all directors originally appointed by the Desheng faction resigned in early June, completing a full iteration of the listed company's board of directors. At the end of the month, the company announced an executive share increase, with the chairman and multiple management members planning to collectively purchase between 1.5 million and 2.4 million yuan worth of company stock over the six months starting June 30.
On the capital front, the company's private placement application received approval from the China Securities Regulatory Commission, with all proceeds directed toward blast furnace energy-saving upgrades, ultra-low emission retrofits, and high-end sheet production line construction. The annual general meeting set the 2026 operational main line as lean cost reduction and product structure optimization. In terms of production and technical upgrades, Chongqing Iron & Steel is implementing capacity replacement plans, intending to shut down inefficient small blast furnaces while simultaneously deploying high-end thin-sheet production lines and short-process electric arc furnace projects. The intelligently overhauled No. 2 blast furnace continues to optimize fuel indicators, and energy-saving renovation projects at the plant site are being rolled out in phases.
Chongqing Iron & Steel Co., Ltd. (abbreviated as "Chongqing Iron & Steel," 601005.SH), founded in 1997 and headquartered in Changshou District, Chongqing, is a key steel production base under China Baowu Steel Group, with an annual crude steel production capacity exceeding 10 million tons. The company collaborates with the China Iron and Steel Association and the Metallurgical Planning Institute to conduct exchanges on carbon management and hydrogen metallurgy technologies, and works with Baowu-affiliated enterprises to establish green industry synergy channels. The industrial heritage site of the old Chonggang plant has been revitalized for cultural tourism, and the Robot Science and Innovation Carnival was successfully held. Through simultaneous efforts in governance optimization, capital empowerment, and process innovation, Chongqing Iron & Steel is steadily advancing its transformation toward high-end, intelligent, and green development.
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