Jiuquan Iron and Steel's Dunhuang seed acquisition proceeding smoothly

Hualong Securities Co., Ltd. issued its Q4 2024 continuing supervision opinion on the acquisition of Gansu Dunhuang Seed Group Co., Ltd. by Jiuquan Iron and Steel (Group) Co., Ltd. Hualong Securities confirmed that Jiuquan Iron and Steel adhered to all necessary decision-making procedures, information disclosure obligations, and regulations set forth by the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange. After the transfer of 58,216,600 shares of Gansu Dunhuang Seed in July 2024, the controlling shareholder became Jiuquan Iron and Steel Group, with the actual controller now the Gansu Provincial People's Government State-owned Assets Supervision and Management Commission. Hualong Securities found no instances of Jiuquan Iron and Steel violating its public commitments. The review also revealed no changes to the company's main business or major adjustments to dividend policy, nor did Jiuquan Iron and Steel provide guarantees or loans to related parties. The opinion covers the period from October 1, 2024, to December 31, 2024.