Nangang Steel Co., Ltd. announced that Dongnan Steel Group, the indirect holding stock of the company, plans to absorb and merge Nanjing Steel Union, the direct controlling shareholder, to acquire 57.13% of Nangang Steel shares held by Nanjing Steel Federation and 100% of Nangang Steel Joint's shares. After the merger is completed, Nangang Steel Group will change to the company's direct controlling shareholder. The actual controller of the company is still CITIC Group, and there have been no changes. Up to now, the merger is still within the announcement period for company merger matters as stipulated in the Company Law. Cancellation registration documents from Nanjing Steel Federation have not yet been obtained, share transfer registration procedures are still required, and all parties are proceeding with follow-up work in an orderly manner.

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