On October 22, NJYH Metal issued an announcement saying that the company planned to introduce Baosteel Metal Co., Ltd. as a strategic shareholder of the company, and Mei Xiaoming, the actual controller of the company, planned to transfer some of its shares to Baosteel Metal, and Entrust some voting rights.
It is understood that Mei Xiaoming holds 32.03% of the shares of NJYH Metal and is currently the chairman and general manager of NJYH Special Metal Co., Ltd. The announcement shows that after the transaction is completed, it may involve changes in the company's control.
NJYH Metal is a non-ferrous metal smelter and related product developer. The company mainly produces magnesium alloys, aluminum alloys, metal strontium, and intermediate alloys, including magnesium alloy particles, aluminum alloy rods, aluminum strontium alloys, etc. Micro-channel flat tubes, die castings and other products. In December 2017, Yunhai Metal and BAIC Group signed a strategic cooperation agreement to jointly develop magnesium aluminum alloy parts.
Established in December 2007, Baosteel Metal is a wholly-owned subsidiary of Baowu Group. Its business covers industrial gases, metal packaging, metal products, automotive trade and services.
Previously, on October 18, Dai Zhihao, Party Secretary and Chairman of Baosteel Co., Ltd., revealed to the media at the fourth Baosteel Auto Plate EVI Forum, "We have a responsibility to promote technological progress on the automotive platform. If not, we have to go Investment will enter the magnesium and aluminum industry sector in due course, and new actions will be announced shortly. "
Baosteel Co., Ltd. is China's largest automotive steel sheet supplier, accounting for more than half of the market. The purpose of the layout of the magnesium and aluminum products industry is to realize its new positioning as a comprehensive supplier of automotive materials.