Hebei Iron and Steel: trusteeship of the investment and Wuyang assets injected gradually

Hebei Iron and Steel today issued a notice, the company intends to accept the holding shareholder of the Tang Steel group entrusted to manage its holdings of the Xuan Steel group 100% of the stake, and accept the second largest shareholder cold Steel group entrusted to manage its possession of Wuyang steel 53.12% of the equity. Reviews first, the trusteeship of the steel and Wuyang in order to fulfill the promise before the Hebei Iron and Steel Group has made a commitment, in exchange for absorption of the merger of the date of one year will be Xuan Steel Group of high-quality Iron and steel business assets and Wuyang Iron and steel equity injected into the company, and in three years will be Handan Bao Company and the Tangshan Stainless steel company equity injection into the company. If the Hebei Iron and steel group fails to inject the existing competitive business and assets into the company in accordance with the above arrangement, the Hebei Iron and steel group will enter into an agreement with the company to entrust the management or leasing operation to the company's competitive business and assets to be independently managed by the AG and enjoy operating profit and loss,　　Hebei Iron and Steel group until the relevant business and assets into the company. Second, the current Xuan steel profit is lower than the joint-stock company, Wuyang profit stronger than the joint-stock AG Xuan Steel Group on December 30, 1996 approved restructuring as a wholly state-owned limited liability companies, registered capital of 1.8 billion yuan, the Tang Steel group's current shareholding ratio of 100%.　　Xuan Steel Group main products are wire, threaded steel, small profile, narrow steel and welded pipe.　　Third, the follow-up capacity is expected to break 30 million tons in addition to the Han Bao is in progress, Xuangang and Wuyang is currently in custody, and stainless steel companies will be injected into the future of listed companies, with subsequent asset injection, the company's capacity is expected to break 30 million tons. Four, maintain the "neutral" rating of the company 2010, 2011 EPS is 0.22 yuan and 0.27 yuan respectively, maintain a "neutral" rating.