The Chinese fertilizer manufacturer Sichuan Development Lomon announced that the acquisition of 49% equity in Chongqing Iron & Steel Group Mining was completed after receiving approval from China’s Chongqing Municipal Market Supervision and Administration Bureau. Sichuan Development Lomon acquired the equity of the iron and steel manufacturer from Chongqing Yufu Holding Group through public delisting.Chongqing Iron & Steel is located in Southwest China, adjacent to the Yangtze River and enjoys a unique and important geographical location. Based in Chongqing, it is in dominant market position in Southwest China. For 2021, the Company planned to produce 8.5 million tonnes of pig iron, with actual production of 6.7446 million tonnes, having completing 79.35% of the plan; planned to produce 10 million tonnes of steel, with actual production of 7.1155 million tonnes, having completing 71.16% of the plan; planned to produce 9.58 million tonnes commodity billet, with actual production of 7.1565 million tonnes, having completing 74.70% of the planThe planned operating revenue was RMB34.5 billion and RMB39.849 billion was achieved actually, 15.51% beyond the plan. he overfulfilling of the plan for operating revenue was mainly due to the significant increase in the price of steel products during the Reporting Period.
The Chinese fertilizer manufacturer Sichuan Development Lomon announced that the acquisition of 49% equity in Chongqing Iron & Steel Group Mining was completed after receiving approval from China’s Chongqing Municipal Market Supervision and Administration Bureau. Sichuan Development Lomon acquired the equity of the iron and steel manufacturer from Chongqing Yufu Holding Group through public delisting.Chongqing Iron & Steel is located in Southwest China, adjacent to the Yangtze River and enjoys a unique and important geographical location. Based in Chongqing, it is in dominant market position in Southwest China. For 2021, the Company planned to produce 8.5 million tonnes of pig iron, with actual production of 6.7446 million tonnes, having completing 79.35% of the plan; planned to produce 10 million tonnes of steel, with actual production of 7.1155 million tonnes, having completing 71.16% of the plan; planned to produce 9.58 million tonnes commodity billet, with actual production of 7.1565 million tonnes, having completing 74.70% of the planThe planned operating revenue was RMB34.5 billion and RMB39.849 billion was achieved actually, 15.51% beyond the plan. he overfulfilling of the plan for operating revenue was mainly due to the significant increase in the price of steel products during the Reporting Period.
