Bengang Steel Plates invests in green recycling subsidiary

Bengang Steel Plates (SZSE:000761) announced plans to establish a joint venture, Green Gold (Benxi) Renewable Resources Co., Ltd., with Ansteel Green Gold Industrial Development Co., Ltd., a related party. The total investment is 60 million RMB, with Bengang Steel Plates contributing 30.6 million RMB for a 51% stake, making the joint venture a controlled subsidiary within its consolidated financial statements. The investment was approved at the company's 9th session of the 34th Board of Directors meeting.