Stock Code: 000761 200761 Stock Abbreviation: Bensteel Plate Bensteel Plate B Serial Number: 2026-046
Bensteel Plate Co., Ltd.
Announcement on the Progress of Major Asset Replacement and Connected Transactions
The Company and all members of its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or major omissions.
Special Reminder:
-
In the "Major Risk Warning" disclosed in the "Proposal for Major Asset Replacement and Connected Transactions" by Bensteel Plate Co., Ltd. on June 21, 2023, the risks related to this transaction, risks of the target company, and other risks were explained. Investors are kindly requested to pay attention to investment risks.
-
This transaction will lead to a significant increase in the proportion of connected sales for the Company, which may result in a significant dependence on the controlling shareholder and other connected parties, and have a major impact on the Company's ability to operate independently and continuously in the market. This transaction does not exclude the possibility of transaction plan adjustments, suspension, or termination. The Company is conducting further prudent argumentation and careful evaluation of the feasibility and compliance of this transaction plan.
-
The transaction plan still requires further argumentation and negotiation, and related matters are still uncertain. The Company will fulfill its information disclosure obligations in a timely manner according to the progress of related matters.
I. Basic Situation of Major Asset Replacement
Bensteel Plate Co., Ltd. (hereinafter referred to as the "Company" or "Listed Company") intends to conduct an asset replacement with Benxi Steel (Group) Co., Ltd. (hereinafter referred to as "Benxi Steel"). The assets to be injected into the Company are the 100% equity of Benxi Steel (Group) Mining Co., Ltd. The assets to be divested by the Company are all assets and liabilities of the Listed Company excluding retained assets and liabilities. The difference between the assets to be injected and the assets to be divested will be settled by one party to the other in cash (hereinafter referred to as "This Transaction").
On March 21, 2023, the Company disclosed the "Notice Announcement on the Planning of Major Asset Replacement and Connected Transactions" (Serial Number: 2023-009).
On April 21, 2023, the Company disclosed the "Announcement on the Progress of Major Asset Replacement and Connected Transactions" (Serial Number: 2023-020).
On May 23, 2023, the Company disclosed the "Announcement on the Progress of Major Asset Replacement and Connected Transactions" (Serial Number: 2023-027).
On June 20, 2023, the Company held the 16th meeting of the 9th Board of Directors and the 11th meeting of the 9th Supervisory Board, deliberated and approved the "Proposal for the Proposal and Summary of Major Asset Replacement and Connected Transactions of Bensteel Plate Co., Ltd." and other proposals related to this transaction, and signed the "Framework Agreement on Major Asset Replacement between Bensteel Plate Co., Ltd. and Benxi Steel (Group) Co., Ltd." with conditions for effectiveness with Benxi Steel. On