It is reported that the recombination of Jinan Steel, Laiwu Steel and Shandong Steel Group gets ratification. Convertible share of Laiwu Steel and Jinan Steel is adjusted to 1:2.41 while the latest share is 1:2.07.

Jinan Steel issues an adjusted report today, indicating that its total asset increases to CNY 56.9 billion from CNY 33.1 billion by June 30, while gross liability grows to CNY 40.2 billion from CNY 25.9 billion and net profit for the first half surges to CNY 436 million from the former CNY 17.4479 million.

At the stock market, Jinan Steel closed at CNY 3.41 on January 4 down by 1.16%, Laiwu Steel closing price drops 1.53% to CNY 7.06.

(Source: www.steelhome.cn/en)
China steel information centre and industry database