GRR Valuation, page-137

Rocket, I reached the 2020 Annual Report by clicking on the link you posted above. I thoroughly checked that it was the 2020 Report. It has 46 Pages. The Top 20 list is on page 44. Pacific International Co (HK).
Whatever it is you have in front of you lists information up to end of March 2021. Ergo, it is not the 2020 Annual Report. Everyone here can read that.
Anyway, the point of my 'research' was to try to see if there was any discoverable relationship between Shagang and the second biggest shareholder. You inadvertently answered the question here a couple of days ago. Mr Ko's group did have a trading relationship with Shagang but as far as I know it ended a couple of years ago.
It is mathematically possible that Shagang could be defeated in a vote, e.g for re-election of directors. However, if Shagang and Mr Ko [smart man that he is] vote the same, then you guys don't even need to turn up.
You can give them two strikes though, but the same voting block could just vote to restore the status quo.
I'm sure you all know already that Shagang have the capacity to produce nearly 40 million tonnes of steel products per year. The less than 2 million tonnes of pellets they buy from Grange each year are a very small fraction of their feed.
Some of you have been here a long time. Anyone like to tackle the bigger question of how it's happened that a foreign company owns just under 50% of an Australian Company?