1. What is the vanadium-titanium reorganization in Panzhihua Iron and Steel Company? On the evening of 10 17, Panzhihua iron and steel co., ltd. disclosed a suggestive announcement on major asset restructuring. It is planned to purchase all operating assets and liabilities of the vanadium products branch of Xichang Steel and Vanadium Co., Ltd. (hereinafter referred to as "Xichang Steel and Vanadium"), the controlling shareholder of the company, in cash.
Second, this major asset restructuring of Panzhihua Iron and Steel Company started with a rectification letter five years ago. In order to solve the potential horizontal competition of Xichang vanadium and titanium, the company plans to inject relevant assets into Panzhihua vanadium and titanium under the condition that Xichang vanadium and titanium production and processing business has been profitable for three consecutive years.
Three. 1998 10, after approval, the company reorganized and issued new shares to obtain sufficient capital for future development. The original equity of Vanadium Steel Company was transferred back to the group company after reorganization. At the same time, the company publicly issued 200 million A shares in China, each 4.8 yuan, and issued 4265,438+065,438+00065,438+04500 issued shares to the group company.