Fangda Special Steel announced that the company plans to withdraw from Huxu in Nanchang and obtain investment control of the steel enterprise in the form of physical distribution, etc. This transaction constitutes a major asset restructuring and related transaction. It does not involve issuing shares, and will not lead to changes in the company's controlling shareholders and actual controllers. As of the date of disclosure of the announcement, due diligence, audit, and evaluation work involved in this transaction is progressing in an orderly manner. A first draft of the report has basically been formed. Further inspection procedures against the target company are being carried out, and the parties to the transaction have yet to sign a formal agreement. The deal is still in the planning stage. There is uncertainty, and termination is possible.

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