Relationship between Jiangsu Shagang and Yonggang

Shagang Holdings Yonggang. The relationship between Jiangsu Shagang and Yonggang is mainly reflected in Shagang holding Yonggang. At the turn of 2007 and 2008, Shagang acquired 25% shares of Jiangsu Yonggang Group Co., Ltd. and became the controlling shareholder of Yonggang Group. In addition, Shagang Group is also one of the shareholders of Yonggang Group, with a shareholding ratio of 15.789%. Yonggang and Shagang are located in Zhangjiagang City, Jiangsu Province, about15km apart.