Hunan Province-based Chinese steelmaker Valin Steel Co., Ltd. has announced that as of September 27 its controlling shareholder Hunan Iron & Steel Group has cumulatively increased its holdings in the company by 70.3998 million shares, accounting for 1.03 percent of Valin Steel's total share capital. As of noon on September 28, Valin Steel's share price stood at RMB 3.38.
Hunan Iron & Steel Group had previously announced its plan to increase its shareholding in the company within six months commencing June 27, 2026, with the amount of the increase ranging from no less than RMB 200 million to no more than RMB 300 million. The plan will continue to be implemented in the future.
Previously, Valin Steel announced that its net profit amounted to RMB 225.3 million ($33.4 million) in the January-June period this year, down 87.11 percent year on year.
