Fangda Special Steel announced that the company plans to withdraw from Huxu, Nanchang, and obtain 100% of the shares of Jiangxi West Steel Group Enterprise Investment Co., Ltd. through physical distribution and cash purchase. Of these, 99.2626% of the shares were obtained through physical distribution, and the transaction consideration was estimated at 3.5 billion yuan based on paid-in capital; 0.7374% of the shares were purchased in cash, with a transaction price of 26 million yuan. This transaction constitutes a major asset restructuring and related transaction, and does not constitute a restructuring and listing. The board of directors of the company has reviewed and passed the relevant bill, and the transaction still needs to be reviewed and approved by the shareholders' meeting.

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