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    323   CNE1000003R8

MAANSHAN IRON & STEEL COMPANY LIMITED

(323)
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Maanshan Iron & Steel : OVERSEAS REGULATORY ANNOUNCEMENT - ANNOUNCEMENT ON RESOLUTIONS OF THE BOARD OF DIRECTORS

07/19/2021 | 09:40am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

馬 鞍 山 鋼 鐵 股 份 有 限 公 司

Maanshan Iron & Steel Company Limited

(A joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 00323)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT ON RESOLUTIONS OF

THE BOARD OF DIRECTORS

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

On 19 July 2021, the forty-sixth meeting of the ninth session of the board of directors of Maanshan Iron & Steel Company Limited (the "Company") was held by way of written resolutions. There were five directors eligible for attending the meeting and five of them attended it. The following resolution was considered and approved at the meeting:

The Company is approved to waive its right for capital injection to Ouye Lianjin Renewable Resources Co., Ltd., which is a subsidiary controlled by Magang (Group) Holdings Co., Ltd., a controlling shareholder of the Company.

For details, please refer to the Voluntary Announcement - Waiver of Capital Injection To Investee Company issued by the Company on the same day.

The above-mentioned resolution is related transaction matter and the related director Mr. Ding Yi was abstained from voting when considering the resolution. The voting result of such resolution was: 4 voted in favor, 0 voted against and 0 abstained from voting.

The Board

Maanshan Iron & Steel Company Limited

19 July 2021

Maanshan City, Anhui Province, the PRC

As at the date of this announcement, the directors of the Company include executive directors Ding Yi and Ren Tianbao; and independent non-executive directors Zhang Chunxia, Zhu Shaofang and Wang Xianzhu.

Disclaimer

Maanshan Iron & Steel Company Limited published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 13:39:06 UTC.


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Financials
Sales 2021 107 B 16 606 M 16 606 M
Net income 2021 6 468 M 1 000 M 1 000 M
Net Debt 2021 13 910 M 2 151 M 2 151 M
P/E ratio 2021 3,96x
Yield 2021 13,5%
Capitalization 41 202 M 6 372 M 6 370 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,56x
Nbr of Employees 22 145
Free-Float 40,2%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 3,35 CNY
Average target price 3,96 CNY
Spread / Average Target 18,0%
EPS Revisions
Managers and Directors
Xiao Feng Zhang Chairman-Supervisory Board
Yi Ding Chairman
Tong Zhou Qin Independent Member-Supervisory Board
Ya Da Yang Independent Member-Supervisory Board
Chun Xia Zhang Independent Non-Executive Director
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