According to the "Reply on the Corporate System Reform Proposal of Shougang Corporation" (J.G.Z [2017] No. 80) by State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality, Shougang Corporation is entirely restructured from an enterprise owned by the whole people into a solely state-owned company, and the enterprise name is changed from "Shougang Corporation" to "Shougang Group Co., Ltd.". On May 27, 2017, the company completed the registration of industrial and commercial change and obtained the changed business license of legal entity. On June 9, Shougang Group Co., Ltd. issued the "Notice on the Restructuring and Renaming of Shougang Corporation to Shougang Group Co., Ltd.".

According to information, in order to implement the policy spirit about state-owned enterprise reform and corporate system reform in relevant documents of the CPC Central Committee and in consideration of the actual situation, the State Council, Beijing Municipal Committee of CPC and Beijing Municipal Government, Shougang Corporation formulated the "Corporate System Reform Proposal of Shougang Corporation" after research and completely restructured Shougang Corporation from an enterprise owned by the whole people which was set up in accordance with "Law of the People's Republic of China on Industrial Enterprises Owned by the Whole People" into a solely state-owned company that is set up in accordance with "Company Law of the People's Republic of China". Corporate system reform is not only the requirement of state-owned assets supervision and administration, but also the internal need of Shougang Group's development. Pushing forward corporate system reform is the foundation of comprehensively deepening reform and is of great significance to the future development of Shougang Group. Shougang Group will form a corporate governance structure that is more in line with the modern enterprise system and promote the enterprise to comprehensively deepened reform, transformation and development.

After restructuring, all the businesses, business contracts, assets, claims, debts, net paper assets, etc. of the original "Shougang Corporation" were inherited by "Shougang Group". The use of trademark and all kinds of qualifications, certificates, etc. with the original registered name of "Shougang Corporation" is temporarily valid. The company will successively go through the formalities of renaming such trademark, qualifications and certificates, and its business address and contact information remain the same.

Focusing on the restructuring and renaming of Shougang Corporation, all relevant units of Shougang Group carefully collated various matters involved in the renaming of the Corporation, strictly followed the policies and regulations of the state, provinces, municipalities and relevant departments, implemented the change standardly under the premise of legal compliance, further collated and detailed the matters to be changed, strengthened coordination, actively cooperated and completed various changes in a reliable and orderly way, thus ensuring that the orderliness of internal and external businesses not be affected after the Corporation was renamed.