SMM: on September 16, Chongqing Iron and Steel announced that the company's former controller, Siyuan he Investment, transferred the partnership rights and interests of the Sanyuanhe Industrial Development Fund to Desheng Group. At the same time, the Sanyuanhe Industrial Development Fund was dissolved and 75% equity of longevity Iron and Steel was distributed non-cash to China Baowu and Desheng Group according to the proportion of actual contribution. China Baowu allocated a 40% stake in Longevity Steel and reached an action agreement with Zhanxin Fund to gain control of Longevity Steel, thus indirectly controlling 2.097 billion shares of the company, accounting for 23.51% of the company's total share capital. China Baowu became the actual controller of the company.
"Click to understand and sign up: 2020 China Automotive New Materials Application Summit Forum
Scan the QR code above to view the business cards of the participating companies and sign up online
Scan the code and apply to join the SMM Automotive Industry Exchange Group.