FilingReader Intelligence

Bengang Steel Plates cautions on asset swap uncertainty

April 19, 2025 at 05:04 AM UTCBy FilingReader AI

Bengang Steel Plates Co., Ltd. (SZSE:000761) has issued a progress update on its proposed major asset swap with Benxi Steel (Group) Co., Ltd. The company reiterated that the transaction, involving the proposed acquisition of Benxi Steel's mining subsidiary and the disposal of Bengang Steel Plates' existing assets and liabilities (excluding certain retained assets), remains subject to significant uncertainty. Bengang Steel Plates is still conducting feasibility and compliance assessments and has warned investors that the terms, scope, and valuation remain undetermined and may change. The company also cautioned that the deal could significantly increase related-party sales, impacting its independent operating capacity, and warned investors of the risk of adjustments, suspensions or cancellation.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:000761Shenzhen Stock Exchange
Steel

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