Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Bengang Steel Plates Co. Ltd.Semi-Annual Report 2024 August 2024 1Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Ⅰ. Important Notice Table of Contents and Definitions The Board of Directors the Supervisory Committee and the Directors members of the Supervisory Committee and senior management of the Company guarantee that there are no misrepresentations or misleading statements or material omission in this report and individually and collectively accept full responsibility for the authenticity accuracy and integrity of the information contained in this report.Huang Zuowei the person in charge of the company Zheng Zhengli the person in charge of accounting work and Sun Yanbin the person in charge of the accounting organization (accounting officer) hereby confirm that the financial report in this semi-annual report is true accurate and complete.All directors have attended the board meeting for reviewing this report.This report involves forward-looking statements such as future plans and does not constitute a substantial commitment of the company to investors. Investors are advised to pay attention to investment risks. This report is prepared in Chinese and English respectively. In the event of discrepancies in the interpretation of Chinese and foreign texts the Chinese text shall prevail.The Company has described the existing risks and countermeasures in detail in this report please refer to the content of Section 3-10 "Risks Faced by the Company and Countermeasures". "China Securities Journal" "Securities Times" "Hong Kong Commercial Daily" and Juchao Information Network (www.cninfo.com.cn) are selected as the company's information disclosure media. All information of the company is subject to the information published in the above-mentioned designated media. Investors are kindly requested to pay attention to investment risks.The Company plans not to pay cash dividends issue bonus shares or increase capital by converting reserves. 2Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Table of Contents Ⅰ. Important Notice Table of Contents and Definiti... 2 Ⅱ. Company Profile and Main Financial Index ......... 6 III. Management Discussion and Analysis ............. 9 IV. Corporate Governance ........................... 24 V. Environment and Social Responsibilities.......... 26 VI. Important Events ............................... 31 VII. Status of Share Capital Changes and Sharehold.. 65 VIII. Status of Preferred Shares ................... 65 IX. Status of Bonds ................................ 66 X. Financial Report ................................ 70 3Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Reference File Directory 1. Financial statements containing the signatures and seals of legal representative chief financial officer and chief accountant; 2. The originals of all company documents and announcements publicly disclosed during the reporting period; 3. Semi-annual reports published in other securities markets. 4Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Definition Terms to be defined Refers to Content of Definition Bengang Bancai the Company the Refers to Bengang Steel Plates Co. Ltd.Listed Company Angang Group Refers to Anshan Iron and Steel Group Co. Ltd.Bengang Group Refers to Bengang Group Co. Ltd.Bengang Steel Co. Bengang Co. Refers to Benxi Steel & Iron (Group) Co. Ltd.SSE Refers to Shenzhen Stock Exchange Liaoning Provincial State-asset Liaoning State-owned Asset Supervisory and Refers to Administration Management Committee Bengang Posco Refers to Bengang Posco Cold-rolled Sheet Co. Ltd.Angang Finance Co. Refers to Ansteel Group Finance Co. Ltd.Angang Refers to Anshan Iron and Steel Co. Ltd.Pangang Group Vanadium Titanium Resources Co.Vanadium Titanium Refers to Ltd. 5Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Ⅱ. Company Profile and Main Financial Index I. Company Information Stock abbreviation Bengang Bancai Bengangban B Stock Code 000761、200761 Stock exchange for listing Shenzhen Stock Exchange Company name in Chinese 本钢板材股份有限公司 Abbreviation of Company name in Chinese 本钢板材 Company name in English (If any) BENGANG STEEL PLATES CO. LTD.Abbreviation of Company name in English (If any) BSP Legal representative Huang Zuowei II. Contact Information Secretary of the Board Representative of Stock Affairs Name Zheng Zhengli Chen Liwen No1-1 Gangtie Road Pingshan District No1-1 Gangtie Road Pingshan District Address Benxi City Liaoning Province Benxi City Liaoning Province Tel 024-47827003 024-47828980 Fax 024-47827004 024-47827004 Email zhengzhengli76@126.com bgbc000761@126.com III. Other Information 1.Contact Information of the Company Whether the registered address office address postal code company website and email address have changed □ Applicable √ Not applicable The company's registered address office address postal code company website email address and etc. have not changed during the reporting period. Please refer to Annual Report 2023 for details. 6Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 2. Place for information disclosure Whether the information disclosure and place for consulting have changed □ Applicable √ Not applicable Name of newspaper selected by the Company for information release website appointed by CSRC for publishing semi-annual report and lodging address of semi-annual report of the Company have not changed during the reporting period. Please refer to Annual Report 2023 for details 3. Other related information Whether other related information have changed □ Applicable √ Not applicable IV. Summary of Accounting Data and Financial Index Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year □ Yes √ No Increase or decrease in this Same period in previous This reporting period reporting period over the year previous year Operating income 28364539286.80 30567409205.03 -7.21% Net profit attributable to the shareholders -1550950137.71-1004945623.68-54.33% of the listed company Net profit attributable to the shareholders of listed company after deducting non- -1621652605.92 -1007279338.85 -60.99% recurring gain/loss Net cash flows generated by operating 1095091396.544662637281.81-76.51% activities Basic earnings per share -0.3775 -0.2446 -54.33% Diluted earnings per share -0.3775 -0.1558 -142.30% ROE -9.55% -5.49% -4.06% Increase or decrease at the At the end of this reporting At the end of previous end of this reporting period period reporting period over the previous year Total assets 45631488543.54 46181979851.06 -1.19% Net assets attributable to shareholders of 15462920341.5617009969496.07-9.09% the listed company 7Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 V. Differences between Domestic and Foreign Accounting Standards 1. Differences of net profit and net assets disclosed in financial reports prepared under IFRS and Chinese accounting standards.□Applicable √ Not applicable There is no differences of net profit and net assets disclosed in financial reports prepared under IFRS and Chinese accounting standards during the reporting period. 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.□ Applicable √ Not applicable There is no differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards during the reporting period.VI. Items and Amount of Non-recurring Gains and Losses √ Applicable □ Not applicable Unit: yuan Items Amount Notes Profit or loss from disposal of non-current assets (including the write-off part for which assets impairment -13712227.48 provision is made) Details of government subsidies recorded into current profits and loss(except such government subsidy closely related to the company’s normal business operation， 84071493.95 meeting the regulation of national policy and enjoyed constantly in certain quota or quantity according to a certain standard) Other non-operating revenue and expenditure other than 5115874.05 above items Less: Impact of income tax 4003960.33 Impact of non-controlling interests (after tax) 768711.98 Total 70702468.21 -- Details of other profit and loss items that meet the definition of non-recurring profit and loss: □ Applicable√ Not applicable Explanation for defining non-recurring gains and losses items according to the "Public Offering of Securities Information Disclosure Explanatory Notice No. 1 – Non-Recurring Gains and Losses" and reasons for defining non-recurring gains and losses items listed in the document as recurring items.□ Applicable√ Not applicable There exists no situation of defining non-recurring gains and losses items listed in the document as recurring items. 8Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 III. Management Discussion and Analysis I. The Company's main business during the reporting period 1. Industry development In the first half of 2024 the domestic steel industry still presents a "three highs and three lows" pattern of "high output high cost high inventory low demand low price and low efficiency" and the overall market is in the bottoming stage.Orders and demand are weak supply is stronger than demand and the price of raw materials and fuels is running at a high level. The actual downward shift of the cost center of gravity is smaller than the downward shift of steel prices. The overall steel price is weak and the overall steel market is in a contradiction between strong expectations and weak reality. 2. Main business main products and their uses During the reporting period the company’s main businesses include iron and steel smelting rolling processing power generation coal chemical industry special steel profiles railways import and export trade scientific research product sales etc. Basically built a high-quality steel base formed more than 60 varieties more than 7500 specifications of product series the proportion of high value-added and high-tech products reached more than 80% automotive surface panels home appliance panels petroleum pipeline steel container panels Leading products such as shipboard etc. are widely used in the fields of automobiles home appliances petrochemicals aerospace machinery manufacturing energy and transportation building decoration and metal products and are exported to more than 60 countries and regions.During the reporting period the company's main business did not undergo major changes. 3. Business model Procurement model: The company's procurement model includes domestic procurement and foreign procurement.Domestic material procurement is carried out through centralized procurement unified bidding price comparison and negotiation. The procurement of foreign materials is carried out through long-term cooperative procurement direct procurement open and invited bidding price inquiry price competition negotiation and procurement and is mainly represented by Benxi Iron and Steel International Trade Corporation.Sales model: The company’s sales are divided into domestic sales and foreign sales. Domestic sales mainly adopt the direct sales model. Large customers are sold directly by the company and other small and medium customers are sold through various regional sales subsidiaries. The strong marketing network accumulated in international trade is exported by its agency company and the agency fee of Benxi Iron and Steel International Trade Co. Ltd. is paid. 4. Main performance drivers During the reporting period Bengang Plate closely followed the work deployment of Angang Group to "focus on five key points and promote three new breakthroughs" fully implemented the overall work requirements of Bengang "one stability two controls three improvements and create five new situations" maintained the strategic focus on automotive steel insisted on accelerating breakthroughs in risk prevention and control structural adjustment systematic cost reduction efficiency improvement and people's livelihood highlighted the key breakthroughs in lean management deepening reform scientific and technological innovation and digital plates and took extreme efficiency improvement as the key to deepen "accounting management" strengthen production and sales coordination and strive to promote transformation and upgrading.The company's main operating indicators were achieved: pig iron output was 5.3473 million tons an increase of 318 thousand tons year-on-year; crude steel output was 5.7217 million tons an increase of 52.9 thousand tons year-on-year; steel output was 8.5029 million tons an increase of 365900 tons year-on-year. Looking back on the work in the first half of the year it is mainly reflected in the following aspects: 9Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 (1) With the "Automobile Steel Strategy" in place the sales of automotive steel hit a record high. Adhere to the efficiency-centered approach strengthen the strategic focus of automotive steel in leading development strengthen the chain supplement the chain extend the chain and actively cultivate a robust industrial chain ecosystem. The sales of automotive steel reached 1.38 million tons an increase of 115.1 thousand tons year-on-year a year-on-year increase of 9.09%; the sales of OEMs reached 176.7 thousand tons an increase of 91.6 thousand tons year-on-year a year-on-year increase of 107.64% a record high; the sales of automotive outer panels reached 71 thousand tons a year-on-year increase of 146%. Actively carry out OEM certification pass 19 users and 44 brand certifications and are carrying out BMW certification. (2) We strive for "extreme efficiency" and make operations more efficient. We insist on being user-centric adjusting the product structure as the core focusing on "production with orders and marginal output" strengthening production and sales coordination improving the cold-hot ratio and cold-plating ratio promoting the cold rolling efficiency and the utilization rate of new production lines optimizing the adjustment index and fully promoting efficient development. The production end broke the monthly production record 11 times and the capacity utilization rate of high-efficiency galvanizing lines increased significantly. Among them the 5# galvanizing line reached 110.4% an increase of 4.85% over the previous year and the 3# galvanizing line reached 113.7% an increase of 4.63% over the previous year. The delivery rate of automobile OEMs has been 100% for four consecutive months. (3) The company made efforts to "create A level in environmental protection and extreme energy efficiency" and make the green background more distinct. The company will accelerate the ultra-low emission transformation continue to carry out the construction of garden-style factories and actively plan energy structure changes and process optimization and innovation. The company will promote the implementation of 65 ultra-low emission transformation projects all of which are planned to be completed and put into production by the end of the year; the comprehensive energy consumption per ton of steel is 564.67kgce/t reaching the advanced level of the industry; the company has successfully pioneered the low-carbon "semi-steel" process path and automotive steel products can achieve a comprehensive carbon reduction of more than 30% compared with the long process. (4) Focusing on "digital empowerment and technological innovation" the driving force for development continues to increase. Plan the benchmark demonstration of the 5# galvanizing line and the 2300 line dark factory increase model cooperation and research and development plan the construction of digital projects and it is expected that the digital projects will create 17.14 million yuan in benefits throughout the year and the 3D job replacement rate will increase to 67%. Adhere to the dominant position of scientific and technological innovation create original leading technologies and products and accelerate the development of a series of products such as 2GPa hot-formed steel new coating products cold-rolled complex phase steel and electro-galvanized deep stamping steel; carry out 4 ton level new product projects and 3 main product cost reduction projects of 1%. It is expected that the new products will achieve a revenue of 2.821 billion yuan and a technological innovation of 0.25 billion yuan throughout the year. (5) The company will make efforts to "market-oriented reform and lean management" to effectively enhance the vitality of development. The company will further promote the reform of the three systems promote the long-term market- oriented exit mechanism for employees promote the competitive employment the adjustment of the last-ranked and the exit system for incompetent managers; further promote the integration of institutions and the optimization of responsibilities; improve the classification assessment mechanism expand the "four-to" concept strengthen the job performance management of all employees and improve the performance assessment mechanism. The company will adhere to "benchmarking + lean" focus on the combination of lean operation and centralized and consistent management and the integration of lean site and five systems and promote the integration of lean management into the whole process and chain of production and operation management. (6) Adhere to the bottom line thinking and strictly observe the red line of safety and environmental protection. Carry out "four no's and two direct" safety inspections on a regular basis; strengthen the safety supervision of relevant parties strictly control the "five checkpoints" and implement the "four unifications". Strengthen environmental protection management increase the intensity of environmental protection assessment and strictly implement the "three simultaneous" requirements.II. Analysis on Core Competitiveness 10Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 The company adheres to the innovation-driven and "quality plus service" development model with the strategic goal of building an internationally competitive high-quality plate base a domestic first-class special steel base and a comprehensive service provider and exerts a strategic leading role focusing on improving quality and efficiency In terms of product upgrades technological innovation green and intelligent manufacturing we will innovate management ideas enhance the core competitiveness of enterprises and promote the realization of high-quality green and intelligent development of enterprises. 1. Manufacturing capacity. Adhere to the efficiency-centered approach firmly establish the strategic determination of automotive steel to lead development strengthen the chain supplement the chain extend the chain and actively cultivate a stable industrial chain ecosystem. With the increase of key products represented by automotive steel as the main line strengthen the application of profit analysis system results optimize resource allocation increase the development and promotion of cold-rolled wide-width automotive plates electro-galvanized automotive outer plates and high-level pickled automotive plates create new "core brand" efficiency and continuously improve the proportion of high value-added products and differentiated profitability. The steelmaking process is mainly based on stable operation achieving both cost reduction and quality improvement. The key technical and economic indicators of electric furnaces have reached the international leading level; the steel rolling process while ensuring stable quality improves the unit operation rate and machine hour output and strives to improve the efficiency of the production line. With the ultimate cost reduction and carbon reduction ideas the company optimizes the process to organize low- carbon and emission-reducing automotive steel production and achieves domestic leading levels. 2. Equipment transformation and upgrading. In 2024 the company issued a fixed asset investment plan of 1.945 billion yuan. A new round of large-scale technical transformation and ultra-low emission transformation represented by key projects such as the transformation project of the main body of the first cold rolling mill of the cold rolling mill the dust removal transformation of the refining area of the plate steelmaking plant the dust removal transformation of the continuous casting and finishing areas of the plate steelmaking plant the environmental governance of the first and second mixing systems of the sintering machine of the plate ironmaking plant the transformation of the finishing dust removal system of the plate 2300 production line the dust removal project of the finishing mill of the plate special steel hot rolling bar line and the transformation of the coking wastewater of the plate ironmaking plant have been implemented. At present the transformation project of the main body of the first cold rolling mill of the cold rolling mill of the cold rolling mill has been put into operation. 3. New product development capabilities. The company has successfully developed 42 new product grades all of which have been sold on the market. In response to the national new energy development strategy the company has fully utilized the advantages of "sales research and production" integration and successfully developed 700MPa high- strength photovoltaic bracket steel GF700 which has extremely high pressure resistance and wind resistance while meeting the requirements of photovoltaic bracket forming and production. The company has explored emerging markets and developed 500MPa grade pile pipe steel HK490 achieving the first stable supply of hot-rolled products exported to the Japanese market by Bengang. Aiming at the international market we have developed and exported molycop grinding ball steel S650A using large square billet continuous casting and terminal reduction processes to improve density and reduce carbon segregation. The company has completed the first batch of 400 tons of production under the contract and all indicators are qualified. 4. Technological innovation ability. In order to strengthen the cooperation between schools and enterprises the company has signed 8 foreign technical cooperation projects with Dalian University of Technology Northeastern University and others to promote the transplantation of mature scientific and technological achievements of universities and institutes to enterprises. In terms of standards the company participated in the revision of 1 international standard presided over the revision of 2 national standards and drafted 30 enterprise standards. In terms of intellectual property rights the company has accepted 81 patents including 30 inventions and 6 overseas patents; 38 patents have been authorized including 11 invention patents. In terms of scientific and technological achievements the company participated in the project "Development and Application of Key Common Technologies for Electromagnetic Control of Large Metal Billets Preparation" and won the second prize of the National Science and Technology Progress Award "Development and Application of High-Performance and Low-Cost Cold-Rolled Galvanized Dual-Phase Steel Series Products" won the second prize of Metallurgical Science and Technology Progress and "Car Body Lightweight Hot Stamping Steel Series Products" won the third prize of Liaoning State-Owned Enterprises "Spark" Innovation and Creativity Competition. 11Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 5. Green development capability. In accordance with the strict policy requirements of the country and Liaoning Province for the steel industry and local ultra-low emissions the company strives to achieve ultra-low emissions by the end of 2025 and build the company into an "ecological steel plant" that is deeply integrated and harmonious with urban development. In 2024 the company's ultra-low emission projects have made significant progress with a total of 73 key projects implemented. In terms of transportation the company has completely phased out the original transport vehicles below the National 3 emission standards and successfully replaced them with new energy trams or vehicles that meet the National 5 and above emission standards laying a solid foundation for building a green logistics system.In terms of green steel market development the company successfully carried out semi-steel experiments and successfully opened up the process path to expand the green steel product line and enhance market competitiveness.At the same time the company has established an LCA (life cycle assessment) carbon data platform to fully prepare for future EPD (environmental product declaration) certification work demonstrating the company's leading position and forward-looking vision in the field of green manufacturing. 6. Intelligent manufacturing capabilities. In 2024 the company will focus on promoting the construction of smart factories in the cold rolling three-cold area and hot rolling 2300 smart factories. Focusing on the core development strategy of plate automotive steel the company will promote digital transformation. Through school-enterprise cooperation the company will upgrade the intelligent model of the main production line. According to the 14th Five- Year Plan the completion rate of the four-in-one transformation of the main production line will increase by 9% the replacement rate of 3D positions will increase by 11% the centralization rate of the operation room will increase by 9% and the automation rate of the production line will increase by 5%. III. Analysis on Main Business Please refer to the relevant content of "I. Main Business Engaged in the Reporting Period".Year-on-year changes in major financial data.Unit: Yuan Current Period Previous Period Change Reason Operating income 28364539286.80 30567409205.03 -7.21% Operating cost 29177241820.27 30714640963.91 -5.01% Selling and 78868443.1369901883.2412.83% distribution expenses General and administrative 351694254.72 339569021.49 3.57% expenses Financial expenses 135182892.48 161557765.87 -16.33% Income tax expenses 34100570.67 33191710.84 2.74% Research and development 970755841.00 969879939.00 0.09% investment Net cash flows from Due to increase in cash 1095091396.544662637281.81-76.51% operating activities payments Due to the decrease of Net cash flows from expenditure on asset -508521987.15-893054682.05-43.06% investing activities purchase and construction Net cash flows from Due to increase of new -611953198.81-1961254120.62-68.80% financing activities borrowings Net increase in cash Due to increase in cash -2505569.001838873251.94-100.14% and cash equivalents payments Significant changes in the company's profit composition or source of profit during the reporting period □ Applicable √ Not applicable There was no major change in the company's profit composition or source of profit during the reporting period.Operating income composition 12Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Unit: Yuan Current period Previous period Change over Amount Proportion Amount Proportion previous period Total operating 28364539286.80100%30567409205.03100%-7.21% income By industries Industry 28364539286.80 100.00% 30567409205.03 100.00% -7.21% By products Steel plate 27720971567.89 97.73% 29094813444.07 95.18% -4.72% Others 643567718.91 2.27% 1472595760.96 4.82% -56.30% By region Domestic 23404921383.53 82.51% 27000481311.59 88.33% -13.32% Abroad 4959617903.27 17.49% 3566927893.44 11.67% 39.04% Industry Product and Regions Accounting for the Company’s Operating Income or Profit over 10% √ Applicable □ Not applicable Unit: Yuan Operating Operating costs Gross margin Operating Operating costs Gross margin income change change over last change over last income over last year year year By industries Industry 28364539286.80 29177241820.27 -2.87% -7.21% -4.93% -2.46% By products Steel plate 27720971567.89 28521627207.05 -2.89% -4.72% -2.50% -2.35% Others 643567718.91 655614613.22 -1.87% -56.30% -55.14% -2.62% By regions Domestic 23404921383.53 24171627813.37 -3.28% -13.32% -10.93% -2.78% Abroad 4959617903.27 5005614006.90 -0.93% 39.04% 39.89% -0.61% When the statistical caliber of the company's main business data is adjusted during the reporting period the company's main business data adjusted according to the caliber at the end of the reporting period in the most recent period □ Applicable √ Not applicable IV. Analysis of Non-core Business √ Applicable □ Not applicable Unit: Yuan Proportion in total Amount Explanation of cause Sustainable (yes or no) profit Income on -31605308.28 2.15% Due to bank bill discount No investment Assets disposal Due to impairment of -14313228.28 0.97% No gains inventory Non-operating Due to the gain from scarp 8976877.17 -0.61% No income of non-current assets Non-operating 27576186.51 -1.87% Due to scrap of assets No expenses V. Assets and Liabilities 1. Significant Change of Assets Components Unit: Yuan 13Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 At the end of this reporting At the end of the Same period period in previous year Proportio Proportio Proportion Notes to significant changes n in the n in the change Amount Amount total total assets assets Cash at bank and 1992324226.634.37%2194654161.344.75%-0.38% on hand Accounts 1327038676.852.91%1328532598.472.88%0.03% receivable Inventories 7854274573.95 17.21% 7708372894.81 16.69% 0.52% Long-term equity 46910346.410.10%46910346.410.10%0.00% investments Fixed assets 24878573917.57 54.52% 25028192964.67 54.19% 0.33% Construction in 4156908135.689.11%4308404147.319.33%-0.22% progress Right-of-use 1566663478.213.43%1319616179.372.86%0.57% assets Short-term loans 495730592.00 1.09% 328000000.00 0.71% 0.38% Contract 2925386458.146.41%3303108592.387.15%-0.74% liabilities Long-term loans 2319589918.00 5.08% 1723726700.80 3.73% 1.35% Lease liabilities 1578684995.29 3.46% 1342427252.45 2.91% 0.55% 2. Main overseas assets □ Applicable √ Not applicable 3. Assets and liabilities measured at fair value √ Applicable □ Not applicable Unit: yuan Profit and Accumulated loss from Purchase fair value Impairment Sales amount Beginning changes in amount Other Ending Item changes accrued in the during the balance fair value in during the changes balance recognized in current period current period the current current period equity period Financial assets 4.Other equity 974463039. instrument 974463039.83 -81576482.17 83 investments Subtotal of 974463039. financial 974463039.83 -81576482.17 83 assets 974463039. Total 974463039.83 -81576482.17 83 Financial 0.000.00 liabilities Other changes Whether there are significant changes in the measurement attributes of the company's main assets during the reporting period 14Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 □ Applicable √ Not applicable 4. Restricted Assets by the End of the Period Items 30 Jun 2024 Gross carrying Reason of Book value Situation amount restriction Cash at bank and Deposit for notes 810054824.11810054824.11 on hand and L/C Notes receivables 383067330.50 383067330.50 Pledged Total 1193122154.61 1193122154.61 15Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 VI. Analysis of investment status 1. Overall situation □ Applicable √ Not applicable 2. Major equity investments obtained during the reporting period □ Applicable √ Not applicable 3. Significant non-equity investment in progress during the reporting period □ Applicable √ Not applicable 4. Financial asset investment (1) Securities investment □ Applicable √ Not applicable There was no securities investment in the company during the reporting period. (2) Investment in derivatives □ Applicable √ Not applicable There was no derivative investment in the company during the reporting period. 5. Use of Raised Funds √ Applicable □ Not applicable (1) Use of Raised Funds √Applicable □ Not applicable Unit: 10 thousand yuan 16Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 The total amount of funds Cumulati Cumulativ The Amount of raised ve total e purpose The total funds Used The total for amount proportion and Way of Net value amount of raised after Total amount amount of used change of funds of total destination Year raising of raised funds being idle of raised funds raised fund amount of of raised for raised of the funds funds raised not for more this year funds raised purpose change funds for raised used than two during of changes of funds not years the purpose purposes yet used reportin g period Issue of 2020 convertib 680000 675920 556.29 476787.84 199132.16 Deposit 101479 le bonds Total -- 680000 675920 556.29 476787.84 0 0 0.00% 199132.16 -- 101479 Description of the overall use of raised funds 17Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 1. Utilization of raised funds investment projects For details on the actual use of the company's raised funds from January to June 2024 please refer to the attached table "Comparison Table of the Use of Funds Raised from Public Issuance of Convertible Corporate Bonds". 2. Changes in the implementation location and implementation methods of the raised funds investment projects During the reporting period the company did not change the implementation locations or implementation methods of the raised funds investment projects. 3. Initial investment and replacement of raised funds investment projects The 13th meeting of the 8th Board of Directors and the 11th meeting of the 8th Board of Supervisors of the Company reviewed and approved the "Proposal on Using Raised Funds to Replace Self-raised Funds Pre-invested in Raised Fund Investment Projects and Paid Issuance Expenses" agreeing that the company will use raised funds to replace self-raised funds pre-invested in raised funds investment projects and paid issuance expenses with a total replacement amount of RMB 366180860.17. This replacement does not involve a disguised change in the use of raised funds does not affect the normal progress of raised funds investment projects and the replacement time is no more than 6 months from the time the raised funds arrive which is in compliance with relevant laws and regulations.Before the raised funds were received the company had used self-raised funds to pre-invest in the raised projects according to the project progress.As of May 31 2020 the amount of self-raised funds pre-invested was RMB 365630860.17 including the steel plant No. 8 casting machine project was RMB 76278945.59 the iron plant No. 5 blast furnace capacity replacement project was RMB 119043290.09 the special steel electric furnace upgrade and transformation project was RMB 59948807.90 the CCPP power generation project was RMB 95098084.16 and the steel plant No. 4-6 converter environmental protection transformation project was RMB 15261732.43. As of July 6 2020 the above- mentioned issuance expenses of RMB 55000.00 paid by the company's own funds were replaced with raised funds.From March 1 2019 to May 31 2021 the company used self-raised funds to pay for the construction of projects funded by the raised funds amounting to RMB 1082356809.47 including RMB 180000.00 for the high-grade high-magnetic induction non-oriented silicon steel project RMB 55364729.08 for the No. 8 casting machine project of the steelmaking plant RMB 628049033.12 for the capacity replacement project of the No. 5 blast furnace of the ironmaking plant RMB 253298156.22 for the upgrading and transformation project of the special steel electric furnace RMB 115353050.36 for the CCPP power generation project and RMB 30111840.69 for the environmental protection transformation project of the No. 4-6 converters of the steelmaking plant. The company has transferred the above amounts from the raised funds account to the general deposit account in 2021.From June 1 2021 to May 31 2022 the company used self-raised funds to pay for the construction of projects funded by the raised funds amounting to RMB 614208698.23 including: RMB 12881890.61 for the No. 8 Casting Machine Project of the Steelmaking Plant RMB 17508088.97 for the Capacity Replacement Project of the No. 5 Blast Furnace of the Ironmaking Plant RMB 364155482.35 for the Upgrading and Reconstruction Project of the Special Steel Electric Furnace RMB 186441497.75 for the CCPP Power Generation Project and RMB 33221738.55 for the Environmental Protection Reconstruction Project of the No. 4 and No. 6 Converters of the Steelmaking Plant. The company has transferred the above amounts from the raised funds account to the general deposit account in 2022.From June 1 2022 to May 31 2023 the company used self-raised funds to pay for the construction of the raised funds investment projects amounting to RMB 494502583.01 of which RMB 15316136.52 was used for the capacity replacement project of No. 5 blast furnace of the ironmaking plant RMB 19796661.74 for the CCPP power generation project RMB 429392157.76 for the upgrading and transformation project of the special steel electric furnace RMB 21452968.70 for the environmental protection transformation project of No. 4-6 converters of the steelmaking plant and RMB 8544658.29 for the No. 8 casting machine project of the steelmaking plant. As of December 31 2023 the company has transferred the funds from the raised funds account to the general deposit account.From June 1 2023 to May 31 2024 the company used self-raised funds to pay for the construction of the raised investment projects amounting to RMB 102185736.55 of which RMB 24887030.75 was used for the No. 8 casting machine project of the steelmaking plant RMB 5111121.59 for the capacity replacement project of the No. 5 blast furnace of the ironmaking plant RMB 60162375.13 for the upgrading and transformation project of the special steel electric furnace RMB 5454868.60 for the CCPP power generation project and RMB 6570340.48 for the environmental protection transformation project of the No. 4-6 converters of the steelmaking plant. As of June 30 2024 the company has not yet transferred the funds from the raised funds account to the general deposit account. 4. Using idle raised funds to temporarily supplement working capital During the reporting period according to the construction progress of the company's raised funds investment projects and the plan for the use of raised funds part of the funds raised by the company's non-public offering is temporarily idle. According to the provisions of the China Securities Regulatory Commission's "Guidelines for the Supervision of Listed Companies No. 2 - Regulatory Requirements for the Management and Use 18Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 of Raised Funds by Listed Companies (Revised in 2022)" (CSRC Announcement [2022] No. 15) and other regulatory documents in line with the principle of maximizing shareholder interests on the premise of ensuring the capital demand of the raised funds investment projects and the normal progress of the raised funds investment projects in order to improve the efficiency of the use of raised funds further reduce the company's financial costs reduce financial expenditures and protect the interests of the majority of investors the company intends to use idle raised funds to temporarily supplement working capital and the use period shall not exceed 12 months from the date of approval by the board of directors.Supplementing working capital will save financial expenses for the company. (1) The funds raised from the public issuance of convertible corporate bonds in July 2020 will temporarily supplement working capital The company used idle raised funds of RMB4180000000.00 (RMB1010000000.00 for high-grade and high-magnetic induction non-oriented silicon steel project RMB220000000.00 for the No. 8 casting machine project of the steel plant RMB800000000.00 for the capacity replacement project of No. 5 blast furnace of the iron plant RMB1300000000.00 for the special steel electric furnace upgrading and renovation project RMB700000000.00 for the CCPP power generation project and RMB150000000.00 for the environmental protection renovation project of No. 4-6 converters of the steel plant) to temporarily supplement working capital. The matter was reviewed and approved at the 14th meeting of the 8th Board of Directors and the 12th meeting of the 8th Board of Supervisors held on July 28 2020. The company's independent directors have expressed their clear consent. The time for supplementing working capital shall not exceed 12 months. (2) The funds raised from the public issuance of convertible corporate bonds in July 2021 will temporarily supplement working capital The company used idle raised funds of RMB 3030000000.00 (RMB 1010000000.00 for high-grade and high-magnetic induction non-oriented silicon steel project RMB 150000000.00 for the No. 8 casting machine project of the steel plant RMB 160000000.00 for the capacity replacement project of No. 5 blast furnace of the iron plant RMB 1000000000.00 for the special steel electric furnace upgrade and renovation project RMB 590000000.00 for the CCPP power generation project and RMB 120000000.00 for the environmental protection renovation project of No. 4-6 converters of the steel plant) to temporarily supplement working capital. The matter was reviewed and approved at the 19th meeting of the 8th Board of Directors and the 17th meeting of the 8th Board of Supervisors held on July 28 2021. The company's independent directors have expressed their clear consent. The time for replenishing working capital shall not exceed 12 months.The sponsor of the company's public issuance of convertible corporate bonds agreed that the company could use idle raised funds to temporarily supplement working capital and issued the "Guotai Junan Securities Co. Ltd.'s Verification Opinion on the Company's Use of Idle Raised Funds to Temporarily Supplement Working Capital".As of December 31 2021 the Company has returned all of the idle raised funds of RMB3030000000.00 used to temporarily supplement working capital to the Company's special account for raised funds. (3) The funds raised from the public issuance of convertible corporate bonds in July 2022 will temporarily supplement working capital The company used idle raised funds of RMB 3014000000.00 (RMB 1015000000.00 for high-grade and high-magnetic induction non-oriented silicon steel project RMB 165000000.00 for the No. 8 casting machine project of the steel plant RMB 175000000.00 for the capacity replacement project of No. 5 blast furnace of the iron plant RMB 933000000.00 for the special steel electric furnace upgrade and renovation project RMB 578000000.00 for the CCPP power generation project and RMB 148000000.00 for the environmental protection renovation project of No. 4-6 converters of the steel plant) to temporarily supplement working capital. The matter was reviewed and approved at the third meeting of the ninth board of directors and the third meeting of the ninth board of supervisors held on July 28 2022. The company's independent directors have expressed their clear consent. The time for replenishing working capital shall not exceed 12 months.The sponsor of the company's public issuance of convertible corporate bonds agreed that the company could use idle raised funds to temporarily supplement working capital and issued the "Guotai Junan Securities Co. Ltd.'s Verification Opinion on the Company's Use of Idle Raised Funds to Temporarily Supplement Working Capital". (4) Funds raised from non-public offering of shares in July 2023 will temporarily supplement working capital The company used idle raised funds of RMB 1961200000.00 (RMB 1015000000.00 for high-grade and high-magnetic induction non-oriented silicon steel project RMB 125000000.00 for the No. 8 casting machine project of the steel plant RMB 145000000.00 for the capacity replacement project of No. 5 blast furnace of the iron plant RMB 188000000.00 for the special steel electric furnace upgrade and renovation project RMB 393200000.00 for the CCPP power generation project and RMB 95000000.00 for the environmental protection renovation project of No. 4-6 converters of the steel plant) to temporarily supplement working capital. The matter was reviewed and approved at the 17th meeting of the 9th Board of Directors and the 12th meeting of the 9th Board of Supervisors held on July 19 2023. The company's independent directors have expressed their clear consent. The time for supplementing working capital shall not exceed 12 months.The sponsor of the company's public issuance of convertible bonds agreed that the company could use idle raised funds to temporarily supplement working capital and issued the "Guotai Junan Securities Co. Ltd.'s Verification Opinion on the Company's Use of Idle Raised Funds to 19Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Temporarily Supplement Working Capital".As of June 30 2024 the company used idle funds raised from the public issuance of convertible corporate bonds to temporarily supplement the balance of RMB1961200000.00 in working capital. (5) Cash management using idle raised funds The company does not use idle raised funds for cash management. (6) Use of surplus raised funds The company does not use the surplus funds from the raised funds investment projects for other raised funds investment projects or non-raised funds investment projects. (7) Utilization of excess funds The company does not have any situation of over-using raised funds. (8) Purpose and destination of unused raised funds As of June 30 2024 except for the advance investment and replacement of investment projects with raised funds and the temporary supplement of working capital with idle raised funds as described in “(III) Advance investment and replacement of investment projects with raised funds” and “(IV) Temporary supplement of working capital with idle raised funds” the remaining raised funds will be temporarily deposited in the special account for raised funds. (9) Other uses of raised funds The company does not have any other use of raised funds. (2) Fundraising commitments √Applicable □ Not applicable Unit: 10 thousand yuan Accumul Whether Investme Date of Whether Total ated the Raised Amount nt the Benefits Whether the amount investme project funds invested progress project achieved the project Committed investment of nt has been promised during as of the reaches during expected feasibility projects and over- investme amount changed total the end of the the the benefits has raised funds nt after as of the (includin investme reporting period expected reporting are changed adjustme end of the g partial nt period (3)＝ usable period achieved significan nt (1) period changes) (2)/(1) status tly (2) Committed invested projects High grade high Not magnetic induction No 101620 101620 0 141 0.14% applicabl No non-oriented silicon e steel project Steelmaking Plant No. 8 Casting Machine No 33500 33500 443.9 20132.3 60.10% 31.10.2020 -28201.2 No No Project Capacity Replacement Project of No. 5 Blast - No 96000 96000 15.66 80182.6 83.52% 30.11.2020 No No Furnace in Ironmaking 21501.16 Plant 20Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 Special Steel Electric Not Furnace Upgrade No 141600 141600 0 123025.3 86.88% applicabl No Project e CCPP power No 83300 83300 38.29 42873.11 51.47% 31.12.2022 14370.15 Yes No generation project Steelmaking plant No. 4-6 converter Not environmental No 19900 19900 58.44 10433.53 52.43% 31.12.2020 applicabl No protection renovation e project Not Repayment of bank No 200000 200000 0 200000 100.00% applicabl No loans e Subtotal -- 675920 675920 556.29 476787.84 -- -- -35332.21 -- -- Over-raised funds Not applicable Total -- 675920 675920 556.29 476787.84 -- -- -35332.21 -- -- Situation and cause of failure to meet planned progress or projected earnings (disclosed by project) (Reasons for High-grade high-magnetic-induction non-oriented silicon steel engineering projects are greatly affected byselecting “Not market factors. The company adjust our development strategies and continuously track market changes.applicable” for“whether the expectedbenefits have beenachieved”) Description of major changes in project None.feasibility Amount use and progress of usage of Not applicable over-raised funds Change in the implementation location of the raised Not applicable funds investment project Adjustment of implementation methods of fund- Not applicable raising investment projects The initial investment Applicable and replacement of the fundraising investment Refer to the Contents in Special Report III 3 project Temporary Applicable replenishment of working capital with Refer to the Contents in Special Report III 4 idle raised funds The amount and reason for the rest of raised Not applicable fund in the project implementation Use and destination of raised funds that have Unused raised funds are deposited in the special account for raised funds.not been used Problems or other None. 21Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 situations in the use and disclosure of raised funds (3) The situation for raised funds change project □ Applicable √ Not applicable During the reporting period the company did not have any changes in the fundraising project.VII. Significant Assets and Equity Sold in Reporting Period 1. Significant Assets Sold □ Applicable √ Not applicable 2. Substantial Equity Sold □ Applicable √ Not applicable VIII. Analysis on Main Subsidiaries and Share Participating Companies √ Applicable □ Not applicable Main subsidiaries and the joint-stock companies influencing over 10% net profit of the Company Unit: Yuan Company Company Main Registered Operating Total assets Net assets Turnover Net Profit Name type business capital profit Bengang Puxiang Processing Cool Subsidiary and sales of 192000000 5495628297.35 2482555227.53 4625594944.57 208259632.58 175927445.95 Rolling steel Steel Sheet Co. Ltd.Acquirement and disposal of subsidiaries during the reporting period □ Applicable √ Not applicable Illustration of main joint-stock companies IX. Structured Entities controlled by the Company □ Applicable √ Not applicable X. Risks and countermeasures for the Company 1. Environmental protection risks Under the constraints of the national "carbon peak" and "carbon neutrality" goals environmental protection departments have increased their supervision of pollution control in the steel industry. Steel companies' environmental protection investment and operating costs have increased and the environmental challenges they face have increased.Response measures: First establish and improve a green low-carbon and circular production and operation system that is through energy-saving and environmental protection equipment upgrades and the promotion and application of 22Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 advanced technologies further improve resource and energy utilization efficiency promote ultra-low emission transformation and comprehensive pollutant control and continuously reduce carbon emission intensity; second actively carry out product ecological design and life cycle evaluation to create green and low-carbon products; third strengthen the operation and maintenance and standardized operation control of existing environmental protection equipment and facilities and focus on strengthening the monitoring of air pollution sources; fourth strengthen the control of raw fuel procurement quality to achieve emission reduction at the source. 2. Market risks In 2024 the domestic economic recovery has not progressed as expected there is still uncertainty in the growth of downstream demand and the risk of overcapacity caused by the continued growth in supply still exists. The steel industry is in a period of transition from incremental development to stock optimization. It will continue to face the challenge of supply and demand imbalance at present and for a long time in the future and market competition will become more intense.Response measures: Deepen "predictive" operations strengthen market analysis and judgment accurately control the market rhythm and dynamically adjust marketing strategies; increase market development efforts strengthen regional market collaboration deepen strategic long-term cooperation and optimize resource flow allocation; continue to optimize product structure continuously increase the proportion of unique leading and key products steadily improve product quality and minimize costs; deeply cultivate the terminal market effectively improve customer precision services and satisfaction levels and continuously enhance product market competitiveness. 3. The risk of raw material price and supply The global iron ore supply monopoly is unlikely to change in the short term. Iron ore is highly dependent on foreign countries coking coal and other resources are scarce and the independent controllable capacity of the steel industry chain supply chain is relatively weak; geopolitical conflicts are intensifying supply chain security is fragile and the risk of safe supply is increasing. The financial attributes of ore coal and coke black resources are enhanced and domestic and foreign hot money speculation is frequent; energy-saving and emission reduction policies continue to deepen upstream coal and coke enterprises have limited production capacity and various internal and external factors have led to frequent fluctuations in raw material prices and enterprises are under great pressure to reduce costs and increase efficiency.Response measures: Strengthen the analysis and judgment of raw material supply and market demand build a raw material procurement model scientifically control procurement opportunities and adjust procurement strategies in a timely manner; strengthen strategic cooperation in raw material supply consolidate and expand domestic raw material procurement channels deeply aggregate raw material resources accelerate the formation of domestic and foreign supply chain security structures and enhance the price advantages of scale procurement; optimize the production charge structure adjust the raw material procurement structure strengthen benchmarking and potential tapping optimize the coal and ore blending structure further reduce production costs reasonably control raw material inventories effectively reduce the adverse effects of raw material price fluctuations and minimize raw material costs.XI. Implementation of the "Dual Improvement of Quality and Return" Action Plan Whether the company has disclosed the announcement of the "double improvement of quality and return" action plan □ Yes √ No 23Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 IV. Corporate Governance I. Annual General Meeting of Shareholders and Temporary General Meeting of Shareholders held during the Reporting Period 1. General meeting of shareholders during the reporting period Investors’ Meeting session Meeting type Date of convening Date of disclosure Disclosure index participation ratio Announcement of Resolutions of 2023 The annual general Annual general 77.10% 23 May 2024 24 May 2024 Annual General meeting of 2023 meeting Meeting of Shareholders 2. Temporary general meeting Request by preferred stockholders whose voting rights restore □ Applicable √ Not applicable II. Change of Directors Supervisors and Senior Executives √Applicable □ Not applicable Name Position Type of change Date Reason Jiang Zhenyu Employee Supervisor Resignation 22 Mar 2024 Voluntary resignation Mao Xiuru Employee Supervisor Elected 22 Mar 2024 Elected Liu Yansong Deputy General Manager Dismissal 1 Apr 2024 Job Change III. Profit Distribution or Capital Reserve Conversion Proposal in the Reporting Period □ Applicable √ Not applicable The company plans not to distribute cash dividends issue bonus shares or increase capital from the accumulation fund in the first half of the year. 24Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 IV. Implementation of the company’s equity incentive plan employee stock ownership plan or other employee incentive measures □ Applicable √ Not applicable During the reporting period the company had no equity incentive plan employee stock ownership plan or other employee incentive measures and their implementation. 25Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 V. Environment and Social Responsibilities I. Major environmental issues Whether the listed company and its subsidiaries belong to the key pollutant discharge units announced by the environmental protection department √ Yes □ No Policies and industrial standards in environmental protection Implement the Environmental Protection Law of the People’s Republic of China Environmental Impact Assessment Law of the People’s Republic of ChinaWater Pollution Prevention and Control Law of the People’s Republic of ChinaAtmospheric Pollution Prevention and Control Law of the People’s Republic of China Soil Pollution Prevention and Control Law of the People’s Republic of ChinaLaw of the People’s Republic of China on Prevention and Control of Environmental Pollution by Solid Waste and other related ecological environment policy Water Pollutant emission Standard for Iron and Steel Industry (GB13456-2012) Pollutant Dismission Standard for Coking Chemical Industry (GB 16171-2012) Air Pollutant emission Standard for Sintering and Sintering Pellets in Iron and Steel Industry (GB28662-2012) Air Pollutant emission Standard for Iron-making Industry (GB28663-2012) Air Pollutant Emission Standard for Steel Rolling Industry (GB28665-2012) Air Pollutant Emission Standard for Thermal Power Plants (GB13223-2011) and other related industry standards.Environmental permits The company involves 12 pollutant discharge units 10 of which are key pollutant discharge units. They obtained the license for the first time in December 2018 and in December 2021 they applied for an extension to December 2026 according to the license management requirements. In 2022 two units had their change application extended to December 2027 and in 2023 one unit had its change application extended to February 2028. Two units are subject to registration management and they obtained the fixed pollution source pollution discharge registration receipt in March 2020 which is valid until 2025; in 2024 two units re-applied and were approved and the validity period is until February 2029 and April 2029 respectively. All units strictly implement the environmental protection facilities to meet the standards and operate stably strictly control the emission of pollutants and the plate company discharges pollutants within the scope of the license every year. All units submit quarterly implementation reports and annual reports online as required.Specific details of industry discharge standards and the discharges of pollutants involved in production and operational activities Type of Main The Main The distribution Emission The Approved Surpass the pollutants Discharge number of Total Name pollutants of discharge concentra emission total emission and specific modes discharge emission and specific hatch tion standard emission standard pollutants hatch pollutants The total quantity is Bengang Energy general Waste water not Steel Plates COD Continuous 1 plant sewage 14 50 23.2 Tons None pollutants confirmed Co. Ltd. treatment plant by the government The total quantity is Bengang Energy general Waste water Ammonia not Steel Plates Continuous 1 plant sewage 0.31 8 0.9 Tons None pollutants nitrogen confirmed Co. Ltd. treatment plant by the government Bengang Waste gas Continuous Raw material Raw Raw The total Particulate 406 tons of Steel Plates pollutants and 191 dumper transfer materials materials quantity is None Matter Smoke and Co. Ltd. intermittent station ore 12-15; 25; not 26Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 receiving sintering sintering dust; 5240 confirmed trough pre- 1.36-28; 50-30; tons of dust by the batch; iron- ironmaki ironmaking government making tapping ng 0.76- 25; yard furnace 8; steelmaking top fuel steelmaki 20-50; solvent whole ng 0.6- special steel grain ore coke 10; 20; coking trough sintering special 10-50; machine head steel 0.7- power dust removal 10; generation machine tail coking 10-30; cold dust removal; 0.7-7; rolling 20; steelmaking power hot rolling molten steel generatio 20-30.pretreatment n 0.2-7; north-south cold backflow rolling 6- station tundish 18; hot primary dust rolling 2- removal 6.secondary dust removal refining dust removal; special steel electric furnace refining furnace; coking coal adding coke pushing dry quenching chimney desulfurization and denitrification; power generation boiler dust removal desulfurization and denitrification; cold rolling acid regeneration pickling straightening welding machine leveling annealing roasting; hot rolling heating furnace.Sintering machine Sintering Sintering head 13- machine head; machine 40; coke coke oven head 200; oven The total chimney; power coke oven chimney quantity is Bengang Continuous boiler 50-100; Waste gas Sulfur 7-17; not Steel Plates and 65 desulfurization; power 1263 tons None pollutants dioxide power confirmed Co. Ltd. intermittent cold rolling generation generatio by the roasting and 100-200; n 2-21; government annealing; hot cold rolling cold rolling heating 100; hot rolling furnace. rolling 150 11-25; hot 27Bengang Steel Plates Co. Ltd. Semi-Annual Report 2024 rolling 3- 44. Sintering machine head 25- Sintering Sintering 77; head 300; machine head; coking coking coking chimney; chimney The total chimney power 77-177; quantity is Bengang Continuous 150-500; Waste gas Nitrogen generation power not Steel Plates and 58 power 3546 tons None pollutants oxides boiler; cold generatio confirmed Co. Ltd. intermittent generation rolling roasting; n 20-60; by the 100-200; annealing; hot cold government cold rolling rolling heating rolling 200; hot furnace. 84-94; rolling 300.hot rolling 10-100. Pollutants treatment In 2024 company as a whole enterprise development and environmental protection invest 1.84 billion yuan comprehensively promote ultra-low emissions transformation work the source reduction process control terminal control of combining technology is implementing the original plate iron factory in dust removal system transformation plate steel mills steelmaking area dust removal transformation sintering head electric transformation plate hot rolling mill production line heat treatment transformation plate resources service branch scrap yard transformation 65 ultra-low emissions transformation project the project can be put into operation at the end of 2024. Vigorously promote the plate company clean transportation work. More than 1000 materials were managed under vehicle emission standards 3320 national VI vehicles and 60 electric heavy trucks were introduced old vehicles and non-road mobile machinery that did not meet ultra-low requirements were phased out and facilities such as power changing stations charging piles hydrogenation stations and other facilities were laid out on the main transportation routes to broaden the application scenarios of new energy vehicle services. Build and complete the corresponding transformation of the property holding metering and other related systems. So far involving the bulk materials and products the six and above vehicle controls are under control state according to the requirements required for clean transportation function has all realize stable operation the factory transport vehicles and the road mobile machinery are meet the requirements of ultra-low emissions of clean transportation public clean transportation + electric card ratio increased from 68% to 81.75% (including: clean transportation 77.07%) reached the plank company ultra-low emissions clean transportation. The plate company carries out the whole process and the whole process of ultra-low emission transformation of organized emission unorganized emission and clean transportation which can realize the emission concentration of air pollutants to meet the requirements of ultra-low emission standards and the environmental protection control ability of the enterprise has been significantly improved.Environmental-related emergency response plans Company and its subsidiary in strict accordance with the Emergency Response Law of the People's Republic of China about the printing

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