The Relationship among Haier, Suning, Baosteel and Vale

Hebei Iron and Steel Group and Haier Group signed an equity cooperation agreement for Haier Special Steel Project. Hebei Iron and Steel Group holds 70% equity of Haier Special Steel, and the two sides jointly operate the color steel plate business.

The two sides will give full play to the synergistic effect of steel industry and household appliances industry in technology, R&D, management and innovation, work together to build the most competitive modern industrial chain, and promote the joint competitiveness of China's steel and household appliances manufacturing industry.

In the next step, Hegang will also integrate homogeneous operating assets and business resources with Haier Special Steel, make overall planning and professional operation, form an independent color-coated board business segment of the Group, and build the first brand in the color-coated board industry of household appliances.