Would Tonghua Iron and Steel Group be reorganized by Anshan Iron and Steel Group or Shougang Group?

Shougang intends to reorganize Jilin Tonghua Iron and Steel Group and has carried out preliminary inspections. Shougang Group’s reorganization of Tonghua Iron and Steel Group (hereinafter referred to as Tonghua Iron and Steel Group) has been put on the agenda. Reporters learned yesterday from relevant people in Shougang that Shougang has launched a preliminary inspection of Tonghua Iron and Steel Co., Ltd. and intends to acquire this large and established state-owned enterprise.

In addition, there is news that Shougang Group has initialed a restructuring agreement with the Jilin Provincial State-owned Assets Supervision and Administration Commission, and Shougang will spend about 2 billion yuan to control Tonghua Iron and Steel. However, this news has not been confirmed by Shougang. Shougang said, "We are still in the early stages of contact, and the reorganization has not been finalized, so the amount of capital injection and other details have not been determined."

According to reports, on January 6, Shougang has dispatched production A total of more than 30 managers from comprehensive departments such as , equipment, and finance went to Tonghua Iron and Steel. The purpose of Shougang's inspection was to conduct a thorough investigation on taking over Tonghua Iron and Steel. Compared with the previous reorganization of the private steel company Jianlong Group, Tonggang showed great enthusiasm, cleaned up the factory area, and put up red slogans to welcome Shougang's reorganization.

Tonghua Steel is the largest steel company in Jilin Province. On July 24 last year, employees resisted the reorganization of Tonghua Iron and Steel Co., Ltd. due to the Jianlong Group, and then Tonghua Iron and Steel Co., Ltd. began to actively look for a reorganizer. Tonghua Iron and Steel Co., Ltd.'s candidates for the "new husband's family" all have state-owned backgrounds. Previously, it was reported that companies interested in reorganizing Tonghua Iron and Steel Co., Ltd. include Anshan Iron and Steel, Shougang and Valin Iron and Steel.