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Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) has issued an update.
Chongqing Iron & Steel Company Limited has issued an overseas regulatory announcement in Hong Kong regarding a risk warning on the potential dilution of immediate returns arising from its planned issuance of A shares to specific target subscribers, together with related mitigation measures and commitments from relevant parties. The company disclosed profit-related information for 2025 and 2026 as required under PRC laws, but emphasized that these figures constitute illustrative scenarios rather than formal profit forecasts under Hong Kong’s Takeovers Code, and have neither been prepared nor reported on in accordance with that code. As a result, the firm has sought and received an indication from the Securities and Futures Commission’s Corporate Finance Division that it is minded to grant a waiver from the Takeovers Code’s reporting requirements, while advising shareholders and investors to exercise caution when interpreting the disclosed information and in making investment decisions regarding the company’s securities.
More about Chongqing Iron & Steel Co., Ltd. Class H
Chongqing Iron & Steel Company Limited is a Chinese steel producer listed in both Shanghai and Hong Kong, operating in the iron and steel industry. The company focuses on manufacturing and selling steel products to domestic and overseas markets, with its H shares traded in Hong Kong under the name Chongqing Iron & Steel Co., Ltd. Class H.
Average Trading Volume: 13,832,521
Technical Sentiment Signal: Hold
Current Market Cap: HK$14.03B
See more insights into 1053 stock on TipRanks’ Stock Analysis page.