Fangda Special Steel announced that the company plans to obtain 100% of the shares of Jiangxi West Steel Group Enterprise Investment Co., Ltd. through physical distribution and cash purchases. This transaction constitutes a major asset restructuring. The transaction did not issue shares or raise supporting capital. The actual control of the company did not change within 36 months before the transaction; after the transaction was completed, Jiangxi West Steel Group Co., Ltd. was still the company's controlling shareholder, and Fang Wei was still the actual controller of the company, which would not lead to a change in the company's control. After verification by independent financial advisors Societe Generale Securities, this transaction did not constitute a restructuring and listing situation as stipulated in Article 13 of the “Administrative Measures on Major Asset Reorganization of Listed Companies”.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.