Hunan Valin Steel boosts silicon steel unit with investments

Hunan Valin Steel (SZSE:000932) is undertaking a significant strategic move to strengthen its position in the silicon steel market. The plan involves a CNY 950 million internal investment in its subsidiary, Hunan Valin Leogang Electromagnetism Material Co., Ltd. (the "Electromagnetism Material Company"). This is coupled with attracting external investment totaling CNY 1.5 billion from five entities: China Construction Bank Financial Asset Investment Co., Ltd., Agricultural Bank of China Financial Asset Investment Co., Ltd., Bank of Communications Financial Asset Investment Co., Ltd., ICBC Financial Asset Investment Co., Ltd. and Loudi Xinglou Industrial Investment Fund Partnership.