Earnings release
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– 1 – 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. THIRD QUARTERLY REPORT OF 2025 The board of directors and all the directors of the Company warrant that there are no false representations, misleading statements contained in, or material omissions from, this announcement and they accept legal responsibility for its truthfulness, accuracy and completeness. IMPORTANT NOTICE: The board of directors, the supervisory committee and the directors, supervisors and senior management of Chongqing Iron & Steel Company Limited (the “ Company ”) warrant the truthfulness, accuracy and completeness of the contents in the quarterly report, confirm that there are no false representations or misleading statements contained in or material omissions from this report, and jointly and severally accept legal responsibility. The legal representative, the chief accountant and the head of the accounting department (accounting officer) of the Company warrant the truthfulness, accuracy and completeness of the financial information contained in the quarterly report. Whether the third quarterly financial statements have been audited Yes ✓ No
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– 2 – I. MAJOR FINANCIAL DATA (I) Key accounting figures and financial indicators Unit: RMB Currency: RMB Item For the Reporting Period Increase/ decrease over the corresponding period last year For the period from the beginning of the year to the end of the Reporting Period Increase/ decrease for the period from the beginning of the year to the end of the Reporting Period over the corresponding period last year (%) (%) Revenue from operations 6,006,073,903.14 8.96 19,091,282,879.67 -7.32 Total profit -86,581,454.70 N/A -216,502,535.05 N/A Net profit attributable to the shareholders of the Company -87,309,147.80 N/A -218,326,788.47 N/A Net profit attributable to shareholders of the Company after non-recurring items -90,770,164.17 N/A -231,277,969.20 N/A Net cash flow from operating activities N/A N/A 1,832,742,291.25 68.11 Basic earnings per share (RMB per share) -0.01 N/A -0.02 N/A Diluted earnings per share (RMB per share) -0.01 N/A -0.02 N/A Weighted average return on net assets (%) -0.53 Increased by 2.99 percentage points -1.32 Increased by 5.73 percentage points As at the end of the Reporting Period As at the end the previous year Increase/decrease at the end of the Reporting Period compared to the end of the previous year (%) Total assets 35,077,098,655.46 35,479,243,942.55 -1.13 Owners’ equity attributable to shareholders of the Company 16,407,963,032.79 16,606,635,984.35 -1.20 Note: The “Reporting Period” refers to the three months from 1 July 2025 to 30 September 2025, and the same below.
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– 3 – (II) Non-recurring items and amounts ✓ Applicable Not applicable Unit: RMB Currency :RMB Non-recurring items Amount for the Reporting Period Amount for the period from the beginning of the year to the end of the Reporting Period Profit or loss on disposal of non-current assets, including the write-off of provision for impairment on assets 30,320.00 2,305,427.97 Government grants included in profit or loss of the period other than those closely related with the normal operation of the Company, in compliance with national policies and regulations, meeting the established standards and with a continuing effect on the gains and losses of enterprise 878,157.00 6,282,611.07 Capital occupancy fee from non-financial enterprises recognized through profit or loss 2,499,655.60 6,326,688.22 Other non-operating income and expenses other than the above items 663,651.36 321,955.95 Less: Impact of income tax 610,767.59 2,285,502.48 Total 3,461,016.37 12,951,180.73 The Company shall explain the reasons for identifying the items not listed under the Explanatory Announcement No. 1 on Information Disclosure by Companies Offering Securities to the Public – Non-recurring Gains/Losses as non-recurring profit and loss items with significant amount, and for defining any non-recurring items listed under the Explanatory Announcement No. 1 on Information Disclosure by Companies Offering Securities to the Public – Non-recurring Gains/Losses as recurring items. Applicable ✓ Not applicable
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– 4 – (III) Changes in key accounting figures and financial indicators and the reasons thereof ✓ Applicable Not applicable Item Change Reasons (%) Net cash flows from operating activities for the period from the beginning of the year to the end of the Reporting Period 68.11 Mainly due to the significant year-on-year decrease in profit
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– 5 – II. INFORMATION ON SHAREHOLDERS (I) Total number of ordinary shareholders, total number of preferred shareholders with restored voting rights and shareholdings of the top ten shareholders Unit: shares Total number of ordinary shareholders as at the end of the Reporting Period 180,847 Total number of preferred shareholders with restored voting rights (if any) as at the end of the Reporting Period 0 Shareholdings of top 10 shareholders (excluding shares lent under the margin refinancing transfer business) Name of shareholder Type of shareholder Number of shares held Shareholding percentage Number of shares held with trading restrictions Pledged, tagged or frozen Share Status Number (%) Chongqing Changshou Iron & Steel Company Limited State-owned legal person 2,096,981,600 23.69 0 Nil 0 HKSCC NOMINEES LIMITED Foreign legal person 533,703,291 6.03 0 Unknown Unknown Chongqing Qianxin Group Co., Ltd. State-owned legal person 427,195,760 4.83 0 Pledged 427,190,070 Chongqing Rural Commercial Bank Co., Ltd. State-owned legal person 289,268,939 3.27 0 Nil 0 Chongqing Urban Construction Investment (Group) Co., Ltd. State-owned legal person 278,288,059 3.14 0 Nil 0 Bank of Chongqing Co., Ltd. State-owned legal person 226,042,920 2.55 0 Nil 0 Baowu Group Zhongnan Steel Co., Ltd. State-owned legal person 224,831,743 2.54 0 Nil 0 China Shipbuilding Industry Complete Logistics Co., Ltd. (ࠢ ʮ̡ ) State-owned legal person 211,461,370 2.39 0 Nil 0 Hwabao Investment Company Limited State-owned legal person 137,459,680 1.55 0 Nil 0 China Baowu Steel Group Co., Ltd. State-owned legal person 129,815,901 1.47 0 Nil 0
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– 6 – Shareholdings of the top 10 holders of shares not subject to trading moratorium (excluding shares lent under the margin refinancing transfer business) Name of shareholder Number of shares held not subject to trading moratorium Class and number of shares Class Number Chongqing Changshou Iron & Steel Company Limited 2,096,981,600 RMB-denominated ordinary shares 2,096,981,600 HKSCC NOMINEES LIMITED 533,703,291 Overseas listed foreign shares 533,703,291 Chongqing Qianxin Group Co., Ltd. 427,195,760 RMB-denominated ordinary shares 427,195,760 Chongqing Rural Commercial Bank Co., Ltd. 289,268,939 RMB-denominated ordinary shares 289,268,939 Chongqing Urban Construction Investment (Group) Co., Ltd. 278,288,059 RMB-denominated ordinary shares 278,288,059 Bank of Chongqing Co., Ltd. 226,042,920 RMB-denominated ordinary shares 226,042,920 Baowu Group Zhongnan Steel Co., Ltd. 224,831,743 RMB-denominated ordinary shares 224,831,743 China Shipbuilding Industry Complete Logistics Co., Ltd. ( ʕ ʮ̡ ) 211,461,370 RMB-denominated ordinary shares 211,461,370 Hwabao Investment Company Limited 137,459,680 RMB-denominated ordinary shares 137,459,680 China Baowu Steel Group Co., Ltd. 129,815,901 RMB-denominated ordinary shares 129,815,901 Description of connected relationship and acting in concert among the above shareholders Chongqing Changshou Iron & Steel Company Limited is the controlling shareholder of the Company, China Baowu Steel Group Corporation Limited is the de facto controller of the Company d Chongqing Changshou Iron & Steel Company Limited, Baowu Group Zhongnan Steel Co., Ltd. and Hwabao Investment Company Limited are under common control by China Baowu Steel Group Corporation Limited, a de facto controller of the Company, thus the four are related parties, and have no connected relationship with the other 6 shareholders and they are not parties acting in concert as defined under the “Administrative Measures for the Acquisition of Listed Companies( ). The Company is also not aware of whether there is any connected relationship among the other 6 shareholders or whether they are parties acting in concert. Description of involvement in securities margin financing, short selling and refinancing (if any) by top 10 shareholders and top 10 holders of shares not subject to trading moratorium N/A
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– 7 – Participation of shareholders with at least 5% shareholding, the top 10 shareholders and the top 10 shareholders holding shares not subject to trading moratorium in the shares lent under the margin refinancing transfer business Applicable ✓ Not applicable Changes in the top 10 shareholders and the top 10 shareholders holding shares not subject to trading moratorium from the previous period due to the shares lent/returned under the margin refinancing transfer business Applicable ✓ Not applicable III. OTHER REMINDERS Other important information about the Company’s operations during the Reporting Period that should be brought to the attention of investors Applicable ✓ Not applicable
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– 8 – IV. QUARTERLY FINANCIAL STATEMENTS (I) Type of audit opinion Applicable ✓ Not applicable (II) Financial statements Consolidated Balance Sheet 30 September 2025 Prepared by: Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item 30 September 2025 31 December 2024 Current assets: Cash and bank balance 3,344,642,127.61 3,019,606,427.86 Bills receivable – 294,742,106.52 Accounts receivable 13,484,700.33 16,605,149.32 Receivables financing 217,048,958.73 898,747,186.51 Prepayments 284,450,216.35 187,852,973.22 Other receivables 31,051,993.70 38,073,563.32 Inventories 1,276,899,813.48 1,706,277,340.05 Other current assets 17,441,400.26 125,476,498.63 Total current assets 5,185,019,210.46 6,287,381,245.43
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– 9 – Item 30 September 2025 31 December 2024 Non-current assets: Long-term equity investments 139,680,079.71 108,764,718.31 Other equity instruments investments 60,364,499.70 60,364,499.70 Fixed assets 25,395,040,036.03 24,523,532,163.82 Construction in progress 859,656,967.64 861,172,176.21 Right-of-use assets 32,317,268.20 163,281,425.80 Intangible assets 2,400,690,605.02 2,470,417,724.58 Goodwill 328,054,770.34 328,054,770.34 Deferred income tax assets 676,275,218.36 676,275,218.36 Total non-current assets 29,892,079,445.00 29,191,862,697.12 Total assets 35,077,098,655.46 35,479,243,942.55 Current liabilities: Short-term borrowings 775,441,062.64 919,368,395.79 Bills payable 2,835,497,526.67 1,933,510,510.45 Accounts payable 4,392,018,287.43 4,960,412,820.44 Contract liabilities 1,320,053,328.86 1,812,205,815.86 Employee remuneration payable 141,775,866.97 136,435,629.44 Taxes payable 52,600,902.93 16,332,462.83 Other payables 3,364,009,729.24 2,660,297,030.92 Non-current liabilities due within one year 2,929,166,518.99 4,253,092,856.67 Other current liabilities 171,593,738.19 235,586,756.06 Total current liabilities 15,982,156,961.92 16,927,242,278.46
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– 10 – Item 30 September 2025 31 December 2024 Non-current liabilities: Long-term borrowings 2,459,722,283.50 1,652,075,334.18 Lease liabilities 22,443,946.08 30,544,958.67 Long-term payables 22,295,023.31 27,491,726.81 Long-term employee remuneration payable 63,557,665.78 118,872,475.11 Accrued liabilities – 3,135,452.93 Deferred income 112,593,660.36 107,051,670.39 Deferred income tax liabilities 6,366,081.72 6,194,061.65 Total non-current liabilities 2,686,978,660.75 1,945,365,679.74 Total liabilities 18,669,135,622.67 18,872,607,958.20 Owners’ equity (or Shareholders’ equity): Paid-in capital (or share capital) 8,851,763,767.00 8,918,602,267.00 Capital reserve 19,279,224,566.14 19,282,146,606.55 Less: Treasury stock – 69,760,540.41 Other comprehensive income 1,585,194.71 1,585,194.71 Special reserve 51,235,573.59 31,581,736.68 Surplus reserve 607,679,608.13 607,679,608.13 Undistributed profit -12,383,525,676.78 -12,165,198,888.31 Total equity attributable to owners of the parent company (or shareholders’ equity) 16,407,963,032.79 16,606,635,984.35 Total owners’ equity (or shareholders’ equity) 16,407,963,032.79 16,606,635,984.35 Total liabilities and owners’ equity (or shareholders’ equity) 35,077,098,655.46 35,479,243,942.55 Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan
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– 11 – Consolidated Income Statement January-September 2025 Prepared byj Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) I. Total revenue from operations 19,091,282,879.67 20,598,066,793.49 Including: Revenue from operations 19,091,282,879.67 20,598,066,793.49 II. Total operating costs 19,351,761,387.68 22,226,320,228.66 Including: Operating costs 18,836,440,959.97 21,679,172,443.81 Taxes and surcharges 122,490,161.63 115,121,799.40 Selling expenses 47,173,021.66 43,949,175.45 Administrative expenses 197,321,045.38 203,352,973.54 R&D expenses 27,689,852.26 31,056,757.21 Finance cost 120,646,346.78 153,667,079.25 Including: Interest expenses 147,291,503.39 132,677,219.55 Interest income 33,180,758.78 15,492,183.15 Add: Other income 87,397,750.96 56,198,698.45 Gains from investment (loss is represented by “-”) 1,359,656.65 5,096,513.47 Including: Ga ins from investment in associates and joint ventures 1,359,656.65 5,096,513.47 Asset impairment loss (loss is represented by “-”) -52,180,275.02 – Gain on disposal of assets (loss is represented by “-”) 2,305,427.97 –
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– 12 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) III. Pr ofit from operations (loss is represented by “-”) -221,595,947.45 -1,566,958,223.25 Add: Non-operating income 1,667,981.48 3,217,506.68 Less: Non-operating expenses -3,425,430.92 27,920,684.37 IV. Total profit (total loss is represented by “-”) -216,502,535.05 -1,591,661,400.94 Less: Income tax expense 1,824,253.42 -241,910,644.05 V. Net profit (net loss is represented by “-”) -218,326,788.47 -1,349,750,756.89 (I) Classified on a going concern basis 1. Ne t profit from continuing operations (net loss is represented by “-”) -218,326,788.47 -1,349,750,756.89 2. Ne t profit from discontinued operations (net loss is represented by “-”) (II) Classified according to the ownership 1. Ne t profit attributable to shareholders of the parent company (net loss is represented by “-”) -218,326,788.47 -1,349,750,756.89 2. Pr ofit or loss attributable to minority shareholders (net loss is represented by “-”)
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– 13 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) VI. Other comprehensive income (net of tax) VII. Total comprehensive income -218,326,788.47 -1,349,750,756.89 (I) To tal comprehensive income attributable to owners of the parent company -218,326,788.47 -1,349,750,756.89 (II) To tal comprehensive income attributable to minority shareholders VIII. Earnings per share: (I) Basic earnings per share (RMB per share) -0.02 -0.15 (II) Diluted earnings per share (RMB per share) -0.02 -0.15 For the business combination under common control occurred during the current period, net profit of the acquiree realised before business combination was /RMB. Net profit of the acquiree realised during the last period was /RMB. Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan
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– 14 – Consolidated Statement of Cash Flows January-September 2025 Prepared by: Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) I. Cash flows from operating activities: Cash received from sale of goods and rendering of services 14,502,445,829.25 18,739,797,064.58 Refunds of taxes 68,531,322.32 46,456,866.47 Other cash received relating to operating activities 75,074,597.38 85,014,159.12 Sub-total of cash inflows from operating activities 14,646,051,748.95 18,871,268,090.17 Cash paid for goods purchased and service received 11,854,560,030.32 16,713,733,841.02 Cash paid to and on behalf of employees 770,729,870.97 876,146,496.29 Cash paid for all types of taxes 157,010,527.24 153,671,249.44 Other cash paid relating to operating activities 31,009,029.17 37,499,292.90 Sub-total of cash outflows from operating activities 12,813,309,457.70 17,781,050,879.65 Net cash flows from operating activities 1,832,742,291.25 1,090,217,210.52
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– 15 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) II. Cash flows from investing activities: Cash received from disposal of investments 200,600,000.00 – Cash received from return on investments 6,312,940.99 7,232,797.28 Net cash received from disposal of fixed assets, intangible assets and other long-term assets 30,320.00 – Sub-total of cash inflows from investing activities 206,943,260.99 7,232,797.28 Cash paid for acquisition and construction of fixed assets, intangible assets and other long-term assets 840,832,862.36 574,855,100.05 Cash paid for investments 726,540,384.08 – Sub-total of cash outflows from investing activities 1,567,373,246.44 574,855,100.05 Net cash flows from investing activities -1,360,429,985.45 -567,622,302.77 III. Cash flows from financing activities: Cash received from borrowings 2,073,891,582.43 1,340,458,957.12 Sub-total of cash inflows from financing activities 2,073,891,582.43 1,340,458,957.12 Cash repayments of borrowings 2,524,942,753.95 580,060,000.00 Cash paid for distribution of dividends or profits, and for interest expenses 137,604,411.51 117,218,595.33 Other cash paid relating to financing activities – 547,260,540.41 Sub-total of cash outflows from financing activities 2,662,547,165.46 1,244,539,135.74 Net cash flows from financing activities -588,655,583.03 95,919,821.38
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– 16 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) IV. Ef fect of fluctuations in exchange rates on cash and cash equivalents -31,204,572.58 V. Net increase in cash and cash equivalents -116,343,277.23 587,310,156.55 Add: Ba lance of cash and cash equivalents at the beginning of the period 2,812,341,074.96 1,831,764,477.16 VI. Ba lance of cash and cash equivalents at the end of the period 2,695,997,797.73 2,419,074,633.71 Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan
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– 17 – Balance Sheet of the Parent Company 30 September 2025 Prepared by: Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item 30 September 2025 31 December 2024 Current assets: Cash and bank balance 3,339,565,455.44 3,017,886,054.05 Bills receivable – 294,742,106.52 Accounts receivable 12,992,499.12 15,949,222.83 Receivables financing 217,026,585.57 898,747,186.51 Prepayments 279,407,501.45 184,665,612.33 Other receivables 90,899,440.11 98,850,007.77 Inventories 1,275,859,520.01 1,705,250,410.38 Other current assets 1,613.25 105,830,771.84 Total current assets 5,215,752,614.95 6,321,921,372.23 Non-current assets: Long-term equity investments 1,131,968,074.39 1,101,052,712.99 Other equity instruments investments 60,364,499.70 60,364,499.70 Fixed assets 24,526,840,315.47 23,658,825,519.25 Construction in progress 859,656,967.64 833,407,008.82 Right-of-use assets 32,317,268.20 163,281,425.80 Intangible assets 2,340,161,526.70 2,408,504,964.55 Deferred income tax assets 676,246,440.70 676,246,440.70 Total non-current assets 29,627,555,092.80 28,901,682,571.81 Total assets 34,843,307,707.75 35,223,603,944.04
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– 18 – Item 30 September 2025 31 December 2024 Current liabilities: Short-term borrowings 775,441,062.64 919,368,395.79 Bills payable 2,835,497,526.67 1,933,510,510.45 Accounts payable 4,436,246,528.32 4,948,586,113.44 Contract liabilities 1,319,946,415.38 1,812,200,398.98 Employee remuneration payable 140,086,414.73 134,763,630.69 Taxes payable 43,182,647.62 5,070,745.25 Other payables 3,331,196,285.63 2,637,790,673.61 Non-current liabilities due within one year 2,929,166,518.99 4,253,092,856.67 Other current liabilities 171,593,034.00 235,586,051.87 Total current liabilities 15,982,356,433.98 16,879,969,376.75 Non-current liabilities: Long-term borrowings 2,459,722,283.50 1,652,075,334.18 Lease liabilities 22,443,946.08 30,544,958.67 Long-term payables 22,295,023.31 27,491,726.81 Long-term employee remuneration payable 63,557,665.78 117,545,748.96 Accrued liabilities – 3,135,452.93 Deferred income 112,593,660.36 107,051,670.39 Total non-current liabilities 2,680,612,579.03 1,937,844,891.94 Total liabilities 18,662,969,013.01 18,817,814,268.69
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– 19 – Item 30 September 2025 31 December 2024 Owners’ equity (or shareholders’ equity): Paid-in capital (or share capital) 8,851,763,767.00 8,918,602,267.00 Capital reserve 19,310,167,824.14 19,313,089,864.55 Less: Treasury stock – 69,760,540.41 Other comprehensive income 1,585,194.71 1,585,194.71 Special reserve 6,667,944.36 – Surplus reserve 577,012,986.42 577,012,986.42 Undistributed profit -12,566,859,021.89 -12,334,740,096.92 Total owners’ equity (or shareholders’ equity) 16,180,338,694.74 16,405,789,675.35 Total liabilities and owners’ equity (or shareholders’ equity) 34,843,307,707.75 35,223,603,944.04 Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan
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– 20 – Income Statement of the Parent Company January-September 2025 Prepared by: Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) I. Revenue from operations 20,301,970,312.03 21,710,698,346.23 Less: Operating costs 20,021,339,319.26 22,783,812,899.23 Taxes and surcharges 110,958,356.59 105,711,356.67 Selling expenses 47,173,021.66 43,949,175.45 Administrative expenses 195,396,298.90 201,364,442.59 R&D expenses 27,689,852.26 31,056,757.21 Finance cost 120,658,510.23 153,662,443.03 Including: Interest expenses 147,291,503.39 132,677,219.55 Interest income 33,159,193.84 15,485,464.73 Add: Other income 32,478,202.45 5,861,116.51 Ga ins from investment (loss is represented by “-”) 1,359,656.65 5,096,513.47 In cluding: Ga ins from investment in associates and joint ventures 1,359,656.65 5,096,513.47 As set impairment loss (loss is represented by “-”) -52,180,275.02 – Ga in on disposal of assets (loss is represented by “-”) 2,275,107.97 –
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– 21 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) II. Pr ofit from operations (loss is represented by “-”) -237,312,354.82 -1,597,901,097.97 Add: Non-operating income 1,667,981.48 2,857,517.68 Less: Non-operating expenses -3,525,448.37 19,954,383.45 III. To tal profit (total loss is represented by “-”) -232,118,924.97 -1,614,997,963.74 Less: Income tax expense – -242,249,694.57 IV. Net profit (net loss is represented by “-”) -232,118,924.97 -1,372,748,269.17 (I) Ne t profit from continuing operations (net loss is represented by “-”) -232,118,924.97 -1,372,748,269.17 (II) Ne t profit from discontinued operations (net loss is represented by “-”) V. Other comprehensive income (net of tax) VI. Total comprehensive income -232,118,924.97 -1,372,748,269.17 VII. Earnings per share: (I) Ba sic earnings per share (RMB per share) -0.03 -0.15 (II) Di luted earnings per share (RMB per share) -0.03 -0.15 Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan
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– 22 – Cash Flow Statement of the Parent Company January-September 2025 Prepared by: Chongqing Iron & Steel Company Limited Unit: RMB Currency: RMB Audit type: unaudited Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) I. Cash flow from operating activities: Cash received from sale of goods and rendering of services 14,498,828,479.94 18,739,077,836.08 Other cash received relating to operating activities 75,047,878.98 84,614,346.84 Sub-total of cash inflow from operating activities 14,573,876,358.92 18,823,692,182.92 Cash paid for goods purchased and service received 11,877,365,278.02 16,758,891,264.20 Cash paid to and on behalf of employees 752,307,531.25 841,886,770.35 Cash paid for all types of taxes 88,705,223.04 94,019,122.42 Other cash paid relating to operating activities 30,978,599.49 37,373,236.63 Sub-total of cash outflow from operating activities 12,749,356,631.80 17,732,170,393.60 Net cash flow from operating activities 1,824,519,727.12 1,091,521,789.32
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– 23 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) II. Cash flows from investment activities: Cash received from disposal of investments 200,600,000.00 – Cash received from return on investments 6,312,940.99 7,232,797.28 Sub-total of cash inflow from investing activities 206,912,940.99 7,232,797.28 Cash paid for acquisition and construction of fixed assets, intangible assets and other long-term assets 835,936,276.59 574,183,899.37 Cash paid for investments 726,540,384.08 – Sub-total of cash outflow from investing activities 1,562,476,660.67 574,183,899.37 Net cash flow from investing activities -1,355,563,719.68 -566,951,102.09 III. Cash flow from financing activities: Cash received from borrowings 2,073,891,582.43 1,340,458,957.12 Sub-total of cash inflow from financing activities 2,073,891,582.43 1,340,458,957.12 Cash paid for repayment of debts 2,524,942,753.95 580,060,000.00 Cash paid for distribution of dividends and profits or for interest expenses 137,604,411.51 117,218,595.33 Other cash paid relating to financing activities – 547,260,540.41 Sub-total of cash outflow from financing activities 2,662,547,165.46 1,244,539,135.74 Net cash flow from financing activities -588,655,583.03 95,919,821.38
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– 24 – Item First three quarters of 2025 (January– September) First three quarters of 2024 (January– September) IV. Ef fect of fluctuation in exchange rates on cash and cash equivalents – -31,204,572.58 V. Ne t increase in cash and cash equivalents -119,699,575.59 589,285,936.03 Add: Ba lance of cash and cash equivalents at the beginning of the period 2,810,620,701.15 1,829,127,865.49 VI. Ba lance of cash and cash equivalents at the end of the period 2,690,921,125.56 2,418,413,801.52 Legal representative: Chief accountant: Head of the accounting department: Wang Huxiang Kuang Yunlong Lei Xiaodan Adjustments to the opening financial statements upon initial application of the New Accounting Standard or Interpretations of Standard since 2025 Applicable ✓ Not Applicable By order of the Board Chongqing Iron & Steel Company Limited Kuang Yunlong Secretary to the Board Chongqing, the PRC, 30 October 2025 As at the date of this announcement, the Directors of the Company are: Mr. Wang Huxiang (Executive Director), Mr. Meng Wenwang (Executive Director), Mr. Kuang Yunlong (Executive Director), Mr. Song De An (Non-executive Director), Mr. Lin Changchun (Non-executive Director), Mr. Zhou Ping (Non-executive Director), Mr. Sheng Xuejun (Independent Non-executive Director), Ms. Tang Ping (Independent Non-executive Director) and Mr. Guo Jiebin (Independent Non-executive Director).