From the to, Mr. Hu Wangming, Chairman of Baowu, visited Mitsui O.S.K. Lines, Hanwa, and Nippon Yusen Kabushiki Kaisha in Tokyo, Japan, to discuss the current situation in the steel industry, the company's operations and production, as well as cooperation.

On the afternoon of the specified date, Hu Wangming visited the headquarters and held talks with President Kakuhisa Kitano of the holding company on the current situation in the steel industry, green and low-carbon transformation, and further deepening cooperation. Hu Wangming stated that Baowu and the holding company have enjoyed long-term friendly cooperation and hoped that both sides would further deepen their collaboration, fully leveraging their respective strengths in technology and management for mutual benefit and win-win outcomes. He emphasized that Chinese and Japanese steel enterprises, primarily using the blast furnace-converter long process, face common challenges in green and low-carbon transformation. He hoped that both sides could work together to explore and find the best carbon reduction paths and practices suitable for the long process, achieving sustainable development. President Kitano expressed that in response to the current severe market conditions, Baowu has proposed the "Four Modernizations" development direction and the "Four Principles" of operation, effectively addressing the current situation. He noted that the long-term close exchanges with Baowu have been fruitful and hoped to continue strengthening communication to jointly seek future development directions and achieve win-win cooperation.

On the morning of the specified date, Hu Wangming visited the headquarters of Mitsui O.S.K. Lines and held discussions with President Hashimoto Tsuyoshi on the current situation in the steel industry, the company's production and business operations, as well as the shipping industry's situation, exploring potential cooperation opportunities together. Hu Wangming expressed his gratitude to Mitsui O.S.K. Lines for their long-term support to Baowu. He mentioned that Baowu and Mitsui O.S.K. Lines have maintained a good relationship of mutual trust and cooperation for a long time. Baowu's international development and green low-carbon transformation require collaboration with internationally outstanding professional companies. He hoped that Mitsui O.S.K. Lines could support Baowu's international shipping business by leveraging their professional advantages. Additionally, he suggested further discussions and research on the application of green fuels in ships, carbon reduction, and clean energy transportation to explore potential cooperation opportunities. He hoped that both parties could explore deeper and broader areas of cooperation in the future, working together for mutual development and win-win outcomes. Hashimoto Tsuyoshi stated that Mitsui O.S.K. Lines, like Baowu, is also undergoing a green low-carbon transformation. Currently, Mitsui O.S.K. Lines is committed to low-carbon shipping, with a series of short-term measures already identified, as well as long-term considerations for building green ships. He hoped to further strengthen communication and deep cooperation with Baowu to jointly address challenges. After the meeting, Hu Wangming also visited the Mitsui O.S.K. Lines' Safe Navigation Support Center.

On the afternoon of the date, Hu Wangming visited the headquarters of Hanwa Co., Ltd. and held discussions with President Nakagawa Yoichi on the current situation of the steel industry, steel trade, and the relevant aspects of their cooperative projects. Hu Wangming stated that the export of high-end steel products is a significant business strategy for Baowu, and he hopes that both parties can further strengthen cooperation in expanding trade products and market development. He emphasized that on the basis of existing cooperation, he hopes that both parties can find more common interests in various fields, expand the scope of cooperation, deepen the content of cooperation, and achieve mutual benefits and win-win outcomes. Nakagawa Yoichi said that Hanwa engages in steel trade, processing and distribution, and alloy resource investment around the world, and in the next step, it will continue to deepen its presence in the Chinese market, hoping to fully leverage its own advantages and further deepen cooperation with Baowu in steel trade, raw material procurement, and joint venture projects.

On the morning of the specified date, Hu Wangming visited the headquarters of Nippon Yusen Kabushiki Kaisha (NYK Line) and held talks with President Soga Takaya on the steel industry situation, future cooperation directions, and the shipping industry conditions. Hu Wangming stated that Baowu and NYK Line have a long history of cooperation, built on a solid foundation of trust and collaboration. In recent years, as Baowu has accelerated its international expansion, the partnership has grown even closer. He hoped that in the next phase of cooperation, NYK Line would leverage its professional expertise to support Baowu's international shipping business and enhance discussions on green fuels, jointly promoting the green and sustainable development of supply chains and industrial chains. President Soga Takaya expressed his honor in long-term participation in Baowu's iron ore transportation business and gratitude for Baowu's strong support in NYK Line's development. He hoped to provide Baowu with more economical, efficient, and green low-carbon services in the future, as Baowu advances its international expansion and green low-carbon transformation. Both parties agreed to further strengthen communication and explore cooperation in broader areas.