According to the "Reply on Approving the Registration of Nanjing Yunhai Special Metal Co., Ltd. to Issuing Stocks to Specific Objects" (Zhengjian Xuke (2023) No. 1685), the issue of shares issued by Nanjing Yunhai Special Metal Co., Ltd. to Baosteel Metal Co., Ltd. was approved. Baosteel Metal will hold 152,499,155 shares of the company, with a shareholding ratio of 21.53%; Mei Xiaoming, the company’s current controlling shareholder and actual controller, will hold 116,559,895 shares of the company, with a shareholding ratio of 16.45%; For corporate governance and personnel arrangements such as the establishment of the party committee, re-election of the board of directors, re-election of the board of supervisors, and appointment of senior management personnel, the company's controlling shareholder will be changed to Baosteel Metal, and the actual controller will be changed to the State-owned Assets Supervision and Administration Commission of the State Council.
In order to further highlight the company's main business, establish a corporate brand image, and enhance brand influence, combined with changes in the company's controlling shareholder, in order to make the company name more in line with the company's actual situation, the company plans to change the company name to "Baowu Magnesium Technology Co., Ltd. "Company" and securities abbreviation were changed to "Baowu Magnesium Industry". This change has been approved by China Baowu Iron and Steel Group Co., Ltd. and has been pre-approved by the market supervision and management department.
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