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The 20^th meeting of the 15^th Board of Directors of the Company

Mar.25

2016

1. Appropriation of distributable earnings for 2015
CSC's distributable earnings for 2015 are NT$9,909million. Dividends will be appropriated according to CSC's Articles of Incorporation. The meeting suggested to appropriate NT$1.4 and NT$0.5 per share for dividends of preferred stocks and common stocks respectively. The above proposals will be submitted to the stockholders' meeting for recognition on June 23, 2016.

2. Date and venue for CSC's 2016 shareholders' meeting
Date: June 23, 2016 (Thursday) 9:00 a.m.
Venue: CSC Auditorium (1, Chung Kang Road, Hsiao Kang District, Kaohsiung, Taiwan)
Date and place for accepting stockholders' draft resolutions and candidate nomination of directors
Date: April 18-27, 2016
Place: China Steel Building (88, Chenggong 2nd Road, Qianzhen District, Kaohsiung, Taiwan)

3. Addition of supporting conveyer of raw materials from storage yards of phases I and II to those of phases III and IV
An investment of NT$263 million for the project was approved in the meeting. After the completion of the project, there will be integrated benefits for operations and for keeping the functions of support in reducing the ship-unloading delay and to-and-fro moving costs during the shortage of raw materials among storage yards.

The 18^th meeting of the 15^th Board of Directors of the Company

Nov.11

2015

The 18^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on November 11, 2015. Major items of the agenda adopted were:

1.	The Revamping of primary motor and programmable logic control (PLC) system for No.1 Pickling & Cold Rolling Mill at Rolling Mill Department Ⅲ
	This project is mainly to replace primary motor of strip mill with AC motor, upgrade hardware and software of programmable logic control (PLC) system, and change the existing welder to laser beam welder. It will commence on December 1, 2015 and is scheduled for completion on February 15, 2018. Total amount of investment estimated for the project will be NT$1,067 million. After this project is completed, it will not only promote product quality and production yield through the improvement of equipment performance, but also be able to reduce the emission of carbon dioxide by 3,685 metric tons estimated per year.

2.	Fund endowment for the operations of CSC Group Education Foundation in 2015
	CSC Group Education Foundation (the Foundation) was established by CSC through fund endowment. Every year the needed fund for the Foundation's operations was endowed by the companies of CSC Group after deducting accrued interest including dividend and time-deposit interest from fund. The amount CSC will endow for the Foundation in 2015 is NT$12.55 million.

3.	Change of management position
	For the needs of business, it will exempt Executive Vice President Dr. Shyi-Chin Wang from his duty as concurrently, Vice President of Technology Division. At the same time, President of China Ecotek Corporation Mr. Tsan-ying Ho will be promoted as Vice President of Technology Division of CSC. The above change of positions will be effective from November 11, 2015 on.

The 17^th meeting of the 15^th Board of Directors of the Company

Oct.01

2015

The 17^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on October 1, 2015. Major items of the agenda adopted were:

1.	Purchase of lands and buildings from World Best Co., Ltd.
	CSC will invest NT$3.35 billion to buy out lands and buildings at land Nos. 1113-2 and 1115, Jhongkuo Section, Siaogang District, Kaohsiung City from World Best Co., Ltd. for storing products.

2.	Election of the Chairman of the Board Directors of CSC
	Dr. Jo-Chi Tsou retired as the Chairman of the Board Directors of CSC and Mr. Jyh-Yuh Sung was elected to replace Dr. Tsou’s position from October 1, 2015 on.

3.	Dr. Jo-Chi Tsou was engaged as Honorary Advisor of CSC from October 1, 2015 on

4.	Change of part management positions of CSC from October 1, 2015 on
	(1)	President Mr. Jyh-Yuh Sung was elected as the Chairman of the Board Directors, and Executive Vice President Mr. Hong-Nan Lin was promoted to replace Mr. Jyh-Yuh Sung’s position as President.
	(2)	Executive Vice President Mr. Hong-Nan Lin was promoted as President, and Vice President of Technology Divison Dr. Shyi-Chin Wang was promoted to replace Mr. Hong-Nan Lin’s position as Executive Vice President, concurrently, Vice President of Technology Division.

The 16^th meeting of the 15^th Board of Directors of the Company

Aug.12

2015

The 16^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held in the morning on August 12, 2015. The major item of the agenda adopted was “addition of the third ladle refining furnace at BOF (Basic Oxygen Furnace) plant I”. Reasons for investing this project are (1) to adapt the trend of steel production type toward largely various items with small volume of each item, (2) unceasing rise of percentage of high-grade steel products. Therefore, more steel liquid needs to pass through the refining compound process, causing the current two ladle furnaces insufficient capacity. The project will commence in October 2015 and is scheduled for completion in June 2018. Total investment amount is estimated to be NT$736 million.

The 15^th meeting of the 15^th Board of Directors of the Company

June.23

2015

The 15^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on June 23, 2015. Major items of the agenda adopted were:

1.	Increase of capital in Honley Auto Parts Co., Ltd. and establishment of a company for running the auto parts through Joint venture
	For grasping the business opportunity of auto parts in the Chongqing area of China, CSC will increase capital in Honley Auto Parts Co., Ltd., as well as joint with Honley Auto Parts Co., Ltd and China Automotive Engineering Research Institute Co., Ltd., to establish a company for running the auto parts in Chongqing city of China in order to enter the market of hot stamping, plastic composite and aluminum alloy extrusion for the auto parts. Total amount of CSC’s investment in the project including increase of capital in Honley Auto Parts will be NT$492 million.

2.	Increase of capital in China Steel Asia Pacific Holdings Pte. Ltd. (CSAPH) by paying out CSC’s holding shares in Formosa Ha Tinh (Cayman) Limited
	CSC will acquire 231,618,194 shares of CSAPH by paying out its holding shares in Formosa Ha Tinh (Cayman) Limited to increase CSAPH’s capital for the investment in Formosa Ha Tinh (Cayman) Limited through CSAPH.

3.	To entrust steel structure construction of Mau Da cold rolling steel products warehouse to China Steel Structure Co. Ltd.

4.	To sell CSC’s part land of ShihJia Section to on-service employees
	CSC and China Prosperity Development Corporation (CPDC) will build the “CPDC Qianzhen Apartment Building” jointly at ShihJia Section, Qianzhen District, Kaohsiung City, of which part land with 2,170 square meters amounting to NT$ 617 million will be sold to on-service employees.

5.	Adjustment of part management positions to be effective on August 1, 2015
	(1)	Vice President of Engineering Mr. Mou-Pin Wang will be seconded for the new position of Chairman of Wind Power Business Development Committee to replace current Chairman Mr. Wen-Du Hsu who will retire on August 1, 2015.
	(2)	Assistant Vice President of Engineering Mr. Ching-Chung Cheng will be promoted as Vice President of Engineering at the same time.

The 14^th meeting of the 15^th Board of Directors of the Company

Mar.12

2015

The 14^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on May 8, 2015. The major item of the agenda adopted is an adjustment of employees’ salary by raising 3% averagely including increase of meal allowance from NT$1,800 to NT$2,400 monthly per employee. The effective date of adjustment is traced back from April 1, 2015 on.

The 13^th meeting of the 15^th Board of Directors of the Company

MAR.27

2015

The 13^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on March 27, 2015. Major items of the agenda adopted were:

1.	Appropriation of distributable earnings for 2014
	CSC's distributable earnings for 2014 are NT$21,862 million. Dividends will be appropriated according to CSC's Articles of Incorporation. In addition to the appropriation of distributable earnings for compensation to directors and supervisors and bonus to employees, the meeting suggested to appropriate NT$1.4 and NT$1.0 per share for dividends of preferred stocks and common stocks respectively. The above proposals will be submitted to the stockholders' meeting for resolution on June 23, 2015.

2.	Date and venue for CSC's 2015 shareholders' meeting
	Date: June 23, 2015 (Wednesday) 9:00 a.m. Venue: CSC Auditorium (1, Chung Kang Road, Hsiao Kang District, Kaohsiung, Taiwan) Date and place for accepting stockholders' draft resolutions and candidate nomination of directors and supervisors Date: April 20-29, 2015 Place: China Steel Building (88, Chenggong 2^nd Road, Qianzhen District, Kaohsiung, Taiwan)

3.	Revamp of No. 3 Blast Furnace 2^nd Campaign
	No. 3 blast furnace second campaign has been operated for over 15 years since it commenced in January 2000. By the time No. 3 blast furnace second campaign finishes its mission of production in October 2017, CSC will have to shut off it before revamping. The project will commence on May 1, 2015 and is scheduled for completion on June 30, 2018.

4.	To buy out land from China Prosperity Development Corporation (CPDC)
	For providing employee housing purpose, CSC will join the “CPDC Qianzhen Apartment Building” project and buy out the land located at ShihJia Section, Qianzhen District, Kaohsiung City from CDPC.

5.	To participate in cash capital increase of White Biotech Corporation for building a plant to make ethanol commercial products from basic oxygen furnace (BOF) gas
	White Biotech Corporation in which CSC invests has applied the technologies of anaerobic microbial fermentation from LanzaTech USA to build a pilot plant to make ethanol. The operation results of pilot plant show that CO utilization ratio, ethanol fermentation broth concentration and microbe tolerance go beyond the predicted goals far and manifest their values in commercial development. For commercial purpose, CSC will build a production plant.

6.	The meeting agreed to sell Class A preferred shares of East Asia United Steel Corporation to Nippon Steel & Sumitomo Metal
	Sumitomo Metal Industries (merged with Nippon Steel Corporation as Nippon Steel & Sumitomo Metal (NSSM) in October 2012), Sumitomo Corporation and CSC established a joint venture company named East Asia United Steel Corporation (EAU) in 2003. CSC held 10,000 Class A preferred shares and acquired the right and obligation to purchase 1.8 million metric tons of steel slabs yearly from Wakayama Steel Works. Since CSC Group’s upstream steelmaking capacity has been increased due to the completion of expansion constructions and the success of equipment renovations and improvements carried out over the years, a negotiation has been made between NSSM and CSC to adjust CSC’s yearly volume of slab purchase from NSSM from1.8 million metric tons to 1.2 million metric tons beginning from Japan’s fiscal year 2015. Taking the equal rights and obligations of investments into account, a negotiation has also been made between NSSM that CSC has to sell out its 3,333 Class A preferred shares of holdings in EAU to NSSM.

7.	Promotion of Mr. Hsiu-Chang Liang as Production Vice President to be effective from April 1, 2015
	Effective from April 1 2015, President of Dragon Steel Corporation Mr. Hsiu-Chang Liang will be promoted to replace Mr. Min-Cheng Tai as CSC’s Production Vice President since Mr. Tai will retire on the same date.

The 12^th meeting of the 15^th Board of of Directors of the Company

FED.13

2015

The 12^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on February 13, 2015. Major items of the agenda adopted were:

1.	To subscribe for 939 million shares of Formosa Ha Tinh (Cayman) Limited
	With the plan of Formosa Ha Tinh (Cayman) Limited to issue its new stocks by increasing cash capital, China Steel Corporation (CSC) will increase its indirect holding ratio in Formosa Ha Tinh Steel Corporation (FHTSC) from 5% to 25% by investing US$939 million to subscribe for 939 million shares in Formosa Ha Tinh (Cayman) Limited through China Steel Asia Pacific Holdings Pte. Ltd.
	CSC is promoting its overseas development strategy proactively. It has been evaluated that the strategic alliance between FHTSC and CSC will have the benefits of complementary synergy of vertical integration. Originally CSC invested in FHTSC by 5% ownership in August 2010. The increase of CSC’s investment in FHTSC will further enhance the cooperative relationship between the two companies and will enable CSC to be more flexible for its deployment of investments in India, Southeast Asia and other surrounding regions in the future.

2.	To subscribe for new issued stocks by cash-capital increase of Taiwan Rolling Stock Co., Ltd. (TRSC) and purchase the shares of TRSC held by Tang Eng Iron Works Co., Ltd.
	CSC will invest NT$869 million in subscribing for new issued stocks by cash-capital increase (NT$608 million) of Taiwan Rolling Stock Co., Ltd. (TRSC) and purchase the shares of TRSC (NT$261 million) held by Tang Eng Iron Works Co., Ltd. respectively.
	It has been considered that CSC’s investment in TRSC will not only upgrade the quality and quantity of Taiwan’s rail vehicles for striving for tremendous trading opportunities of track engineering in Southeast Asia, but also ensure the completion of Danhai Light Rail Line engineering project as scheduled and quality to achieve the goals of rail vehicles manufactured by local enterprises in Taiwan.

The 11^th meeting of the 15^th Board of of Directors of the Company

DEC.23

2014

The 11^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on December 23, 2014. Major items of the agenda adopted were:

1.	Purchase of the land and buildings of LCY Chemical Corporation
	The meeting agreed to buy the land and buildings of LCY Chemical Corporation located at Siaogang District of Kaohsiung with total price NT$937 million for planning to establish a plant of commercial ethanol. Annual production capacity of ethanol planned will be 100 thousand metric tons which will meet high-value-fuel purpose, have given benefits and be conducive to CSC’s jobs for energy saving and CO2 deduction.

2.	Selling a portion of CSC’s finished building to Steel Precision Metal Industry Co., Ltd.
	The meeting agreed to sell a portion of CSC’s finished building to Steel Precision Metal Industry Co., Ltd. with total price NT$125,537,430 as a plant for CSC’s contract-out processing titanium/nickel/stainless medium steel plates.

The 10^th meeting of the 15^th Board of of Directors of the Company

Nov.12

2014

The 10^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on November 12, 2014. Major items of the agenda adopted were:

1.	Schedule change of capital expenditure projects
	Based on the requirement for rearranging the hot rolling production capacity in order to satisfy the demand of market in 2015 and reduce the contract-out expense of hot rolling, the revamp of pre-programmed automatic and electrical control system for No. 2 hot strip mill at Rolling Mill Department II ─ Hot Rolled Products, which was resolved in the 16^th meeting of 14^th Board of Directors on December 27, 2012, will extend its original schedule period from January 1, 2013 to December 31, 2017 to that from January 1, 2013 to December 31, 2018, totally extending 12 months. In the same reason, the revamp of Nos. 1 and 2 reheating furnaces for No.1 hot strip mill, which was resolved in the 2^nd meeting of 15^th Board of Directors on August 9, 2013, will extend its original schedule period from September 1, 2013 to October 31, 2017 to that from September 1, 2013 to October 15, 2018, totally extending 11.5 months.

2.	Signing turnkey contract with China Steel Machinery Corporation for revamp of blast furnace gas reservoir
	The turnkey contract for revamp of blast furnace gas reservoir has been signed with China Steel Machinery Corporation after negotiating the amount to be NT$805 million.

3.	Fund endowment for the operations of CSC Group Education Foundation in 2014
	CSC Group Education Foundation (the Foundation) was established by CSC through fund endowment. Every year the needed fund for the Foundation's operations was endowed by CSC after deducting accrued interest including dividend and time-deposit interest from fund. The amount CSC has to endow for the Foundation in 2014 is NT$8.482 million.

The 9^th meeting of the 15^th Board of of Directors of the Company

Aug.13

2014

The 9^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on August 13, 2014. Major items of the agenda adopted were:

1.	Increase of cash capital by NT$610 million for China Steel Resources Corporation
	CSC’s investment in China Steel Resources Corporation (CSRC) is for processing and treating the desulfurization slags which are output from CSC Group to extract the available metals for CSC Group’s reuse. At the same time, the non-magnetic mineral tailings of desulfurization slags (hereinafter called as “the tailings”) are contracted out and paid for the charge to process and treat for reuse. Because the consumption of tailings after process and treatment is limited, an assessment made by CSRC concludes that CSRC will not contract out for processing and treating the tailings, but CSRC will set up a processing and treating plant by itself instead in order to make the treated tailings multipurpose and increase their reuse. Therefore, CSC will increase cash capital by NT$610 million, providing for CSRC to set up a processing and treating plant.

2.	Increase of investment in Sakura Ferroalloys Sdn. Bhd. amounted US$1,387 million
	In 2013 when CSC invested in Sakura Ferroalloys Sdn. Bhd. (abbreviated as “the Sakura”) with 19% ownership for the Sakura’s constructions, a consensus of the amount of working capital in the initial stage and the way of financing were not reached by the Sakura’s shareholders. Therefore, the working capital in the initial stage was not listed in the investment amount. Presently the shareholders has reached a consensus of the amount of working capital in the initial stage to be US$73 million, therefore CSC will increase investment with US$13.87 million counted by CSC’s 19% ownership in the Sakura accordingly.

3.	Purchase of Sumitomo Corporation’s ownership in China Steel Sumikin Vietnam Joint Stock Co.
	The invested China Steel Sumikin Vietnam Joint Stock Co. (CSVC) with CSC’s domination has smoothly launched its production since its completion ceremony of plant constructions on October 14, 2013. Sumitomo Corporation is one of seven initial stockholders with 5% ownership in CSVC. Taking account of strategy, Sumitomo Corporation decides to withdraw its investment in CSVC. The meeting resolved if other initial Taiwanese shareholders of CSVC give up purchasing Sumitomo Corporation’s ownership in CSVC, CSC will offer to buy it totally.

The 7^th meeting of the 15^th Board of of Directors of the Company

May.09

2014

The 7^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on May 9, 2014. Major items of the agenda adopted were:

1.	Establishment of a company with OEM finishing process for producing hot rolled steel plates, bars and wire rods
	CSC will invest NT$872.5 million in establishment of a wholly-owned company with OEM process for finishing CSC’s semi-finished products of titanium- and nickel-alloys to produce hot-rolled steel plates, bars and wire rods that will make CSC Group’s finishing process of Ti-Ni-alloy materials more complete for the industrial uses, so as to increase the Group’s product competitiveness. The project is scheduled for completion in June 30, 2015.

2.	An adjustment in employees’ salary by raising 2.7%
	An adjustment in employees’ salary by raising 2.7% was resolved in meeting and its effective date was traced back from April 1, 2014 on.

3.	Change of part management positions to be effective from June 1, 2014 on
	(1)	Vice President of Engineering Mr. Wen-Du Hsu will be transferred to the new position as Chairman of Wind Power Business Development Committee.
	(2)	Vice President of Corporate Planning Mr. Mou-Pin Wang will be transferred to the new position as Vice President of Engineering.
	(3)	Vice President of Finance Mr. Chung-Yi Lin will be transferred to the new position as Vice President of Corporate Planning.
	(4)	Assistant Vice President of Finance Mr. Yuan-Chuan Horng will be promoted as Vice President of Finance.

The 6^th meeting of the 15^th Board of of Directors of the Company

Mar.21

2014

The 6^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on March 21, 2014. Major items of the agenda adopted were:

1.	Appropriation of distributable earnings for 2013
	CSC’s distributable earnings for 2013 are NT$14,584 million. Dividends will be appropriated according to CSC's Articles of Incorporation. In addition to the appropriation of distributable earnings for compensation to directors and supervisors and bonus to employees, a suggestion was made in the meeting to appropriate NT$1.4 per share (stock dividend NT$0.2 and cash dividend NT$1.2) for dividends of preferred stocks and NT$0.9 per share (stock dividend NT$0.2 and cash dividend NT$0.7) for common stocks. The above resolution will be proposed at stockholders’ meeting on June 18, 2014.

2.	Capital increase from earnings in 2013 for the Issuance of Common Stocks
	The meeting resolved to appropriate NT$3,092,770,390 from the distributable earnings in 2013 as a capital increase for replenishment of CSC’s working capital. 309,277,039 common shares with NT$10 par value will be issued in one time. The rights and obligations of new shares are the same as current common shares.

3.	Equipment Revamp for Reduction of Effluent Ammonia Nitrogen (NH3-N) in CSC
	CSC plans to revamp the pertinent equipment of Coal Chemical plant and Biological Wastewater Treatment plant in order to meet the Chemical Industry Effluent Standards promulgated by Environmental Protection Administration, Executive Yuan, R.O.C. (Taiwan) on January 22, 2014. The project will commence in April 2014 and is scheduled to test run for completion in September 2017. Besides, the closing work including the remove of old equipment will be done from October 2017 to June 2018. After this project completes, not only the ammonia nitrogen concentration of effluent water can be reduced to below 20ppm to meet the new effluent standards, but also 1,328 kilograms of ammonia nitrogen (NH3-N) of effluent can be reduced per day to improve the environmental quality effectively and fulfill CSC’s social responsibilities.

4.	Change of Shareholding Structure of Formosa Ha Tinh Steel Corporation
	In 2000, the board meeting approved to invest in 5% ownership of Formosa Ha Tinh Steel Corporation (FHTSC). In order to introduce strategic investors and plan the employee allocation, FHTSC will adjust its shareholding structure from shareholders’ direct investment to indirect holding through the establishment of Formosa Ha Tinh (Cayman) Limited (temporary name) to invest FHTSC. For meeting the above said adjusted shareholding structure, CSC will also change its direct investment in FHTSC to indirect investment through its investment in China Steel Asia Pacific Holdings Pte. Ltd. to hold the shares in FHTSC.

5.	Investment in the East China Coil Center in Kunshan City, Jiangsu Province
	In order to expand sales channels for steel products and establish the sales bases in East China, CSC will establish the Shearing Process and Distribution Center in Kunshan City, Jiangsu Province through China Steel Asia Pacific Holdings Pte. Ltd. in Singapore. Planned investment amount will be US$12.848 million with 80% ownership in the Center.

6.	Date and venue for CSC's 2014 shareholders' meeting
	Date:	June 18, 2014 (Wednesday) 9:00 a.m.
	Venue:	CSC Auditorium (1, Chung Kang Road, Hsiao Kang District, Kaohsiung, Taiwan)
	Date and place for accepting stockholders’ draft resolutions and candidate nomination of directors and supervisors
	Date:	April 16-25, 2014
	Place:	China Steel Building (88, Chenggong 2^nd Road, Qianzhen District, Kaohsiung, Taiwan)

7.	Relief of business strife limitation for directors
	For safeguarding the rights and interests of investments, the following concurrent positions of directors were approved in the meeting pursuant to the Paragraph 1 of Article 209 of Company Law:
	─	Chairman Jo-Chi Tsou concurrently Director of China Ecotek Corporation
	─	Director Jyh-Yuh Sung concurrently Director of Chung Hung Steel Corporation
	─	Director Horng-Nan Lin concurrently Chairman of China Ecotek Corporation, and Director of Formosa Ha Tinh Steel Corporation
	─	Director Jih-Gang Liu concurrently Directors of Chung Hung Steel Corporation, CSC Steel Holdings Bhd, CSC Steel Sdn Bhd, and East Asia United Steel Corporation respectively.
	The above resolutions for directors will be proposed at stockholders’ meeting on June 18, 2014.

The 5^th meeting of the 15^th Board of Directors of the Company

Jan.21

2014

The 5^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on January 21, 2014. Major items of the agenda adopted were:

1.	Establishment of a Company to Process and Handle Desulfurization Slags
	CSC will invest NT$371 million to establish a wholly-owned company for processing and handling the desulfurization slags which CSC Group produce in order to ensure that the handling operations will meet the environmental regulations and laws and the purpose of satisfied handling. The test run of the plant construction is scheduled for completion before May 2015.

2.	Change of part management positions for the needs of business will be effective on February 1, 2014
	(1)	Executive Vice President Mr. Kin-Tsau Lee will leave his office to act as Chairman of China Steel Express Corporation. President of Dragon Steel Corporation Mr. Hong-Nan Lin will be promoted as Executive Vice President.
	(2)	Vice President of Production Mr. Tsung-Ren Jeng will leave his office to act as Chairman of CHC Resources Corporation. Assistant Vice President of Production Mr. Min-Cheng Tai will be promoted as Vice President of Production.

The 4^th meeting of the 15^th Board of Directors of the Company

Dec.18

2013

The 4^th meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on December 18, 2013. Major items of the agenda adopted were:

1.	To provide Roy Hill Holdings with shareholder loan facility
	According to the approval of the 12^th meeting of the 14^th Board Directors that was held on March 21, 2012, CSC’s 100% own subsidiary CSC Steel Australia Holdings Pty. Ltd. (CSC SAH) invested 2.5% share in Roy Hill Holdings Pty. Ltd. (RHH) for AUD 305.2 million.
	At the board meeting on December 18, 2013, a resolution was passed to provide RHH US$125 million loan in the form of preferred stock subscription. This loan is reserved and is used only in case of cost over-run of the project.

2.	Establishment of Wind Farm Business Development Committee
	In order to develop wind farm business, extend CSC Group’s green energy development strategy and respond to government’s policy on energy and sustainability, the board approved to revise CSC’s organization by establishing a “Wind Farm Business Development Committee” under the president of CSC. The Committee will consist of three departments: Wind Farm Business Department, Wind Farm Construction Department and Wind Farm Technology Department, which will be responsible for planning and execution of CSC Group’s wind farm business, engineering and technologies. Such establishment will promote nation-wide wind mill production, maritime installation and construction, operation and maintenance.

The 3^rd meeting of the 15^th Board of Directors of the Company

Nov.08

2013

The 3^rd meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on November 8, 2013. Major items of the agenda adopted were:

1.	A joint venture with Engley Auto. Parts Co., Ltd. to establish Hot Stamping Auto Parts Corporation
	The hot stamping technology, which has the effects of raising safety and lightening weight for autos, applied to the design of auto structure hugely in the recent years. In contrast with traditional cold stamping formability, hot stamping technology has the advantages of good formability, stable dimensions and less forming passes, as well as has the manufacturing strength over 1,470MPa. Therefore, the percentage of use for auto safety parts is increasing year by year that enables CSC to have the opportunity to open its auto steel sheet new markets. CSC will hold 30% ownership in the joint venture with Engley Auto Parts Co., Ltd. (a Taiwanese company with exclusive venture). The headquarters of new company, Hot Stamping Auto Parts Corporation, will locate in Taiwan. Plants will be established in China’s Changchun and in Taiwan. Taiwan’s plant, which will position its status as the center of design and development and will root its core technology in Taiwan, is scheduled for launching production in 2016 with planned 0.5 million pieces of annual capacity. Changchun’s plant is scheduled for two-phase launching production in 2015 and 2017 with 1.5 million pieces of planned annual capacity respectively.

2.	Revamp of No. 1 wire rod mill for decommissioning extension
	CSC’s No. 1 wire rod mill was originally planned to decommission in 2013. However, because its products are simple and have the advantages of high quality with low cost, and still have the demand in the market, CSC decides to extend its decommissioning for producing 300 thousand metric tons of commercial-grade wire rods per year in order to satisfy the needs in the domestic market. The division of labor of Nos. 1 and 2 wire rod mills will enable No. 2 wire rod mill to increase high-grade steel production for meeting the needs in the markets and conforming to the competitive strategies of product differentiation and low cost. The project will commence in December 2013 and is scheduled for completion in January 2015.

3.	Issuance of domestic corporate bonds amounted to NT$30 billion
	CSC will issue domestic corporate bonds at suitable time before the end of 2014 in order to replenish working capital. Total amount of issuance will be within NT$30 billion.

4.	Fund endowment for the operations of CSC Group Education Foundation in 2013
	CSC Group Education Foundation (the Foundation) was established by CSC through CSC’s fund endowment. Every year the needed fund for the Foundation’s operations was endowed by CSC after deducting accrued interest including dividend and time-deposit interest from fund. CSC will endow the Foundation with NT$9.288 million accounted according to the needed fund for the Foundation’s operations in 2013.

The 2^nd meeting of the 15^th Board of Directors of the Company

Aug.09

2013

The 2^nd meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on August 9, 2013. Major items of the agenda adopted were:

1.	Increase of Investment in China Steel Corporation India Pvt. Ltd.
	China Steel Corporation India Pvt. Ltd (CSCI) is one of CSC’s wholly owned subsidiaries. Currently, CSCI’s phase-1 construction of electrical steel coil production line is in progress. Taking account of the future expansion and completeness of facilities, the phase-1 construction has to include the needed water and utilities of the phase-2 expansion project. Therefore, CSC will increase its investment in CSCI by US$60.06 million to meet the said increase of budget.

2.	Investment of Equipment for de-Sulfurization (de-SOx) and de-Nitrification (de-NOx) at No.2 Sinter Plant
	CSC will add one set of equipment each for de-SOx and de-NOx at No.2 sinter plant. Total amount of investment will be NT$2,216 million. The project will commence in September 2013 and is scheduled for completion in August 2017. After the project is finished, it assures that each emission concentration of SOx and NOx will be decreased to below 100ppm which meets the member of emission standard of new rules and regulations and enables CSC to improve the quality of environment effectively.

3.	Revamp of Nos. 1 and 2 Reheating Furnaces for No.1 Hot Strip Mill
	Total amount of investment for the project will be NT$1,705 million. The project will commence on September 1, 2013 and is scheduled for completion on August 31, 2017. After the project is finished, it will be able to raise the production capability of high-grade steel products and save production cost about NT$252 million per year. Moreover, this project will also enable CSC to reduce the emission of nitrogen oxide (NOx), sulfur oxide (SOx), particulate and carbon dioxide (CO2) by about 9.37 metric tons, 6.37 metric tons, 0.051 metric tons and 30,530 metric tons respectively per year since the project will adopt the best way of burning control to increase burning efficiency.

4.	Purchase of Land
	CSC will invest NT$870 million to buy out a land and three buildings on the land located at land No.1103-1, Jhonglinzih Section, Siaogang District, Kaohsiung City.

5.	Approval of Members of Corporate Governance Committee of the 15^th Board of Directors
	Directors Shen-Yi Lee, Jyh-Yuh Sung, and Chao-Chin Wei were elected in the meeting as members of Corporate Governance Committee of the 15th Board of Directors. Director Shen-Yi Lee was also designated as the convener for the committee.

6.	Approval of Members of Compensation Committee of the 15th Board of Directors
	Independent Directors Ting-Peng Liang, Shen-Yi Lee, and Juu-En Chang were elected in the meeting as members of Compensation Committee of the 15th Board of Directors. Director Ting-Peng Liang was also designated as the convener for the committee.

7.	Establishment of Preparatory Office for Wind Farm Development Company
	In order to grasp the potentially enormous business opportunity of offshore wind farm business, and integrate CSC Group’s accumulative experience and technology in various areas over the years to create a new business area, CSC established the “Preparatory Committee for Wind Farm Business” internally in February 2013. The purpose of committee is to evaluate, investigate and research the market and business of wind farm industry. Furthermore, CSC decided to establish the “Preparatory Office for Wind Farm Development Company” in order to strive for offshore wind farm related businesses and plan for the investment schedules according to the progress of government’s impetus to the development of wind power energy. Major tasks in the preparatory stage include:
	(1)	To plan the operation of the new company
	(2)	To discuss on joint venture with possible shareholders of the new company
	(3)	To coordinate with related government authorities proactively to draw up beneficial policies for the development of offshore wind farm industry
	(4)	To select the optimum technology sources
	(5)	To exchange views and discuss on future cooperation with domestic potential supply-chain firms in the wind turbine generator manufacturing
	(6)	To select domestic and foreign professional consulting firms as consultants for the investment of offshore wind farm business
	(7)	To establish a complete plan for the finance and risk hedge of the offshore wind farm engineering project.

The 1^st meeting of the 15^th Board of Directors of the Company

Jun.19

2013

The 1^st meeting of the 15^th Board of Directors of China Steel Corporation (CSC) was held on June 19, 2013. Major items of the agenda adopted were:

1.	Election of Chairman of the Board of Directors
	Mr. Jo-Chi Tsou was elected as Chairman of the 15th Board of Directors, and Mr. Jyh-Yuh Sung was engaged to as President.

2.	Investment in Sakura Ferroalloys Sdn. Bhd. in Malaysia
	In order to secure the ferromanganese materials and reduce the securing cost, CSC will spend US$62.46 million to join together with the companies from South Africa and Japan for investment in Sakura Ferroalloys Sdn. Bhd. in Malaysia. CSC will hold 19% ownership in Sakura Ferroalloys. According to the holding ratio, CSC is guaranteed to purchase to off take about 30-32 thousand metric tons of ferromanganese per year.