Announcement on the Progress of Major Asset Restructuring Implementation

✨ AI Summary

This announcement details the progress of the major asset restructuring involving Panzhihua New Steel & Vanadium Co., Ltd. and Pangang Group Chongqing Titanium Industry Co., Ltd. The restructuring was approved by the China Securities Regulatory Commission on December 25, 2008. The company is currently coordinating the transfer procedures and plans to announce the cash option implementation by the end of March or April 2009. Investors are advised to refer to official disclosures for accurate information.

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