Sinosteel Corporation's newly-established subsidiary plans to use 250 million yuan of idle funds for cash management.

On September 19, 2025, Minmetals New Energy Materials Co., Ltd. held a meeting to review and approve the proposal for its wholly-owned subsidiary Hunan Changyuan Lithium Battery New Energy Co., Ltd. to temporarily manage up to 250 million yuan of idle raised funds in cash, with a validity period of 12 months and the funds can be rolled over. The company had previously raised 3.25 billion yuan through the issuance of convertible bonds, with a net amount of 3.238 billion yuan after deducting expenses. The purpose of this cash management is to increase the efficiency of fund utilization, increase shareholder returns, and invest in products with high security, good liquidity, and meeting the requirement of capital preservation. The company stated that this will not affect the use of funds for raised investment projects, and has established related risk control measures, with the audit committee and the sponsoring institution both agreeing to the proposal.