Intend to acquire the equity of a controlling subsidiary, Shougang Corporation will suspend trading starting March 27.

LightningPacketLoss · 2026-03-29T17:59:58+00:00

Shougang Co., Ltd. plans to issue convertible bonds and purchase the equity of its controlling subsidiary, Shougang Zhixin Electromagnetic Materials. It is expected not to constitute a major asset restructuring and may be classified as an associated transaction. The stock has been suspended since March 27, and the relevant plan will be disclosed before April 11.

LightningPacketLoss

2026-03-29 17:59:58

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Beijing Business News (Reporter Ma Huanhuan, Li Jiaxue) On the evening of March 26, Shougang Co., Ltd. (000959) announced that the company is planning to issue convertible bonds and pay cash to purchase assets while raising supporting funds. The assets involved in this transaction are the equity of Shougang Zhixin Electromagnetic Materials (Qian’an) Co., Ltd., a subsidiary controlled by the company. The company’s stock will be suspended from trading starting March 27.

The announcement indicates that, based on preliminary research and calculations, this transaction is expected not to constitute a major asset reorganization, but may constitute a related party transaction.

Shougang Co., Ltd. stated that the company expects to disclose the transaction plan within no more than 10 trading days, that is, before April 11, in accordance with requirements.

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