Angang Zhoukou Iron & Steel Co., Ltd. announced that it will receive CNY 1,600,000,000 in equity round of funding from existing investor AnYang Iron & Steel Inc. (SHSE:600569) on August 18, 2020. The investor's stake will increase from 40% to 76.92% and the registered capital will increase from CNY 1,000,000,000 to CNY 2,600,000,000 upon closing. The transaction has been approved by the 5th extraordinary directorate meeting of the investor and is subject to its shareholder's approval in its 1st special shareholders' meeting to be held on September 3, 2020. On September 3, 2020, the company announced that the transaction is approved by the shareholders of the investor at its 1st special shareholders' meeting.