Shougang announced that it plans to acquire 49.00% equity interest in Beijing Shougang Steel Trade Investment Management Co., Ltd. through a private placement. At the same time, the company plans to raise associated funds through non-public offering by way of inquiry to no more than 35 qualified eligible investors. The auditing and evaluation of the acquisition has not finished yet with the estimated value and appraised price undetermined. This transaction is not expected to cause major asset restructuring.