This announcement details the progress of the major asset restructuring involving Panzhihua New Steel & Vanadium Co., Ltd. and related parties, approved by the China Securities Regulatory Commission on December 25, 2008. The restructuring process is ongoing, with asset transfer procedures being carried out. A cash option plan will be announced by the end of March or early April 2009. Investors are advised to refer to official disclosures for accurate information.
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Panzhihua New Steel & Vanadium Co., Ltd.'s major asset restructuring plan (hereinafter referred to as "this major asset restructuring") has been approved by the China Securities Regulatory Commission (CSRC) on December 25, 2008, under the approval document [2008]1445. The company hereby announces the progress of this major asset restructuring following the CSRC's approval:
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