The company was recently informed by Shanghai Securities Depository and Clearing Corporation Limited, Shanghai branch that, Xining Special Steel Group Co., Ltd., the controlling shareholder of the company with 369,669,184 shares, had pledged its 43.86 mln restricted shares, equal to a 5.92% stake in the company, to China Construction Bank Corporation, Xining Chengbei sub-branch.

Relevant procedures were completed on 24 Nov 2008.

Board of Directors
26 Nov 2008


Source: Shanghai Stock Exchange

Date: 26 Nov 2008

CN01/FL/JL/VW/JW