NBD AI Bulletin，Shanxi Taigang Stainless Steel Co., Ltd. (SZ 000825, closing price: 3.42 yuan) announced on the evening of May 27 that shares of the Company were suspended trading on the Shenzhen bourse on April 16 for a major asset restructuring. As of the date of this announcement, the Company and other related parties are still pushing forward the restructuring work.

On November 3 of 2019, Taiyuan Iron & Steel (Group) Co., Ltd., the controlling shareholder of the Company, signed a strategic cooperation framework agreement with China Baowu Steel Group Corporation Limited and Shandong Xinhai Technology Co., Ltd. The signing, discussion and implementation of relevant cooperation intentions of the agreement may affect the Company. Indonesia's ban on exporting nickel ore, which took effect from January 1 of 2020, will affect supplies in the domestic nickel-iron market, the sector and related companies as well. Both of them may bring great uncertainties to the restructuring work of the Company. To safeguard the long-term interests of all shareholders, the company is studying and evaluating its impact. In addition, the coronavirus outbreak has impeded the progress of the negotiations.

According to the 2019 annual report, Shanxi Taigang Stainless Steel Co., Ltd. mainly engages in steel metallurgy, accounting for 100.0% of its revenue.

The Company's chairman is Gao Jianbing: Male, EMBA holder and Senior Engineer. The Company's General Manager is Li Hua: Male, Bachelor of Economics and Accountant.

(By Tan Yuhan)

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