Announcement on the Progress of Major Asset Replacement and Related Transactions
The company and all members of the board guarantee that the content of the information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
Special Reminder:
- The "Major Risk Warning" in the "Major Asset Replacement and Related Transactions Plan" disclosed on June 21, 2023, outlines the risks related to this transaction, the target company's risks, and other risks. Investors are advised to pay attention to investment risks.
- This transaction will significantly increase the company's related party sales ratio, which may lead to substantial reliance on the controlling shareholder and other related parties, significantly impacting the company's ability to operate independently in the market. There is a possibility of adjustments, suspension, or cancellation of the transaction plan. The company is conducting further prudent verification and careful assessment of the feasibility and compliance of this transaction plan.
- The transaction plan still requires further verification and communication, and there are uncertainties regarding related matters. The company will fulfill its information disclosure obligations in a timely manner based on the progress of related matters.
Basic Situation of Major Asset Replacement
Benxi Steel Plate Co., Ltd. (hereinafter referred to as "the company" or "the listed company") intends to conduct an asset replacement with Benxi Steel (Group) Co., Ltd. (hereinafter referred to as "Benxi Steel"). The assets to be acquired by the company are 100% equity of Benxi Steel (Group) Mining Co., Ltd., while the assets to be disposed of by the company include all assets and liabilities of the listed company except for retained assets and liabilities. The difference between the acquired and disposed assets will be compensated in cash by one party to the other (hereinafter referred to as "this transaction").