Shanghai Securities News reported that Shanxi Taigang Stainless Steel intends to inject CNY 559 million into subsidiary Tianjin Taigang Stainless Steel, raising its stake in the Tianjin subsidiary from 50% to 65%.

Taigang Stainless Steel, which produces stainless steel plates, reported sales revenue of CNY 2.536 billion and a net loss of CNY 11.18 million for the first 11 months of 2011.

The subsidiary recorded total assets of CNY 2.917 billion and net assets of CNY 1.596 billion as of November 2011 end.

(Sourced from Shanghai Securities News)