It is reported that Xinxing Cathay International Group, the shareholder of Xinxing Ductile Iron Pipes Co Ltd has overweight another 0.68% of the whole shares equalling to 12.99 million shares which makes it hold 959 million shares accounting for 50.01% of the total equity by August 23rd according the announcement of Xinxing Ductile Iron Pipes Co Ltd.

Related information shows that Xinxing Cathay International Group plans to overweight 0.7% of shares within a year and current 50.01% has already surpassed the original set 50% which supports it become the biggest shareholder of Xinxing Ductile Iron Pipes Co Ltd. Before this new move, Xinxing Cathay International Group has already hold shares of 946 million accounting for 49.33% of the total equity.

(Sourced from MySteel.net)
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