Grinm Advanced Materials (300034.SZ): Waives Right of First Refusal to Invest in Steel Research Aurora

Gelonghui, March 19 — Steel Research High-Nano (300034.SZ) announced that Changzhou Steel Research Aurora Additive Manufacturing Co., Ltd. (referred to as “Steel Research Aurora”) is a shareholding company of Beijing Steel Research High-Nano Technology Co., Ltd. In April 2021, the company invested 10 million yuan to establish Steel Research Aurora, holding a 20% stake, with Steel Research Investment Co., Ltd. (referred to as “Steel Research Investment”) also holding 20%. In January 2022, the company and Steel Research Investment signed a “Unanimous Action Agreement” to coordinate the operation, management, and shareholder rights of Steel Research Aurora. In August 2023, the company and Steel Research Investment each increased their investment in Steel Research Aurora by 40 million yuan, proportionally. As of the date of this announcement, the company holds a 20% stake, and Steel Research Investment also holds 20%.

According to the “Interim Measures for the Management of Free Transfer of State-Owned Property Rights of Enterprises” and other relevant regulations, Steel Research Investment plans to transfer its 20% equity stake in Steel Research Aurora free of charge at book net value to Steel Research International New Materials Innovation Center (Shenzhen) Co., Ltd. (referred to as “Steel Research Guochuang”). The transferor, Steel Research Investment, and the transferee, Steel Research Guochuang, are both wholly owned subsidiaries of China Steel Research Technology Group Co., Ltd. (referred to as “China Steel Research”), the controlling shareholder of the company. This equity transfer is an internal, gratuitous transfer conducted under the same control as part of China Steel Research’s duties as a state-owned enterprise investor. This transfer is an administrative allocation, requiring no consideration or market transaction. Considering the company’s future development plans and strategic layout, the company waives its right of first refusal for this transfer. After the transfer is completed, Steel Research Guochuang will become the controlling shareholder of Steel Research Aurora, with the company’s shareholding remaining unchanged at 20%. The company will sign a new “Unanimous Action Agreement” with Steel Research Guochuang and publish it.