BSP's major asset swap progress disclosure, the transaction still has uncertainties

BenGang Steel Plate Co., Ltd. issued a significant asset swap and related transaction progress announcement. The company plans to swap assets with Benxi Steel, acquiring 100% equity in Benxi Steel Mining and disposing of all assets and liabilities except for retained assets and liabilities, with the cash difference to be supplemented. Since the planning began in March 2023, the company has disclosed progress multiple times. As of now, the transaction plan requires further verification and negotiation, and the scope of the target assets, transaction price, etc., have not been determined. The transaction does not rule out the possibility of adjustments, suspension, or cancellation. The company will disclose information in a timely manner based on progress and remind investors to pay attention to risks