China Steel: Announcement of sale of real estate and equipment on behalf of NHAC, a subsidiary of CSAaluminum Corporation


1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City):
 Land use rights at No. 288 Siming East Road, Fenghua District Ningbo City,
 Zhengjia Province, building and equipment
2.Date of occurrence of the event:2022/07/29
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
 (1)Transaction unit amount
    Land use rights: 150,000 square meters(equivalent to 45,375 pings)
    Building: 52,329.59 square meters(equivalent to 15,829.7 pings)
 (2)Total transaction price: around CNY 350,000,000
4.Trading counterparty and its relationship with the Company (if the trading
counterparty is a natural person and furthermore is not a related party of
the Company, the name of the trading counterparty is not required to be
 Ningbo Fenghua Jinbei Construction Investment Co.,Ltd.;
 The counterparty is not a related party.
5.Where the trading counterparty is a related party, announcement shall also
be made of the reason for choosing the related party as trading counterparty
and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of
6.Where an owner of the underlying assets within the past five years has
been a related party of the Company, the announcement shall also include the
date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction:NA
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition): Profit around CNY 64,831,161
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions:
 According to the contract.
 Restrictive covenants in the contract, and other important terms and
 conditions: None
9.The manner of deciding on this transaction (such as invitation to tender,
price comparison, or price negotiation), the reference basis for the
decision on price, and the decision-making unit:
 price negotiation; according to board of directors' resolution
10.Name of the professional appraisal firm or company and
its appraisal price:
 (1)Tianyuan Appraisal Co.,Ltd.; CNY 300,681,100
 (2)Ningbo Yongzhi Appraisal Co.,Ltd.; CNY 319,801,600
11.Name of the professional appraiser:
 (1)Tianyuan Appraisal Co.,Ltd.: Xuebing Liang/Yabin Wu
 (2)Ningbo Yongzhi Appraisal Co.,Ltd.: Qi Yu/QiaoQiao Ren
12.Practice certificate number of the professional appraiser:
 Xuebing Liang: 33030091
 Yabin Wu: 33190184
 Qi Yu: 30220001
 QiaoQiao Ren: 30200021
13.The appraisal report has a limited price, specific price,
or special price:No
14.An appraisal report has not yet been obtained:No
15.Reason for an appraisal report not being obtained:NA
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:NA
17.Name of the CPA firm:NA
18.Name of the CPA:NA
19.Practice certificate number of the CPA:NA
20.Broker and broker's fee:NA
21.Concrete purpose or use of the acquisition or disposal: assets sales
22.Any dissenting opinions of directors to the present transaction:None
23.Whether the counterparty of the current transaction is a
related party:No
24.Date of the board of directors resolution:NA
25.Date of ratification by supervisors or approval by
the audit committee:NA
26.The transaction is to acquire a real property or right-of-use
asset from a related party:No
27.The price assessed in accordance with the Article 16 of the
Regulations Governing the Acquisition and Disposal of Assets
by Public Companies:NA
28.Where the above assessed price is lower than the transaction price,
the price assessed in accordance with the Article 17 of the same
29.Any other matters that need to be specified:None

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