On October 11, CITIC Pacific Special Steel Group Co., Ltd. (hereinafter referred to as “CITIC Steel”) held a ceremony marking its restructuring, renaming and listing. The core special steel assets of CITIC Group were injected to the listed company whose stock abbreviation is officially changed from “Daye Steel” to “CITIC Steel”. This restructuring is a specific measure for the capital market to support the in-depth reform of SOEs and serve such national strategies as supply-side structural reform, playing a significant role in developing world-class professional leading enterprises in the field of special steel and promoting the professional, refined and international development of the special steel industry of China.

Founded in October 1979, CITIC Group has developed into a large comprehensive multinational SOE after years of exploration and innovation in many fields. Through this restructuring, CITIC Group’s special steel market has completed overall listing and become the largest listed company specialized in special steel in the A-share market, providing strong support for CITIC Group to realize the strategic goal of dual drive by “finance + industry”. Prior to this transaction, the businesses of the listed corporation mainly focused on steel bars and forging. When the transaction completed, the listed corporation has developed more products and involved in more industries, significantly enhancing its overall strength and anti-risk capability.

SZSE has always been increasing efforts to provide comprehensive services and supporting central SOEs in utilizing the capital market to strengthen themselves. Up to now, SZSE has achieved connection and cooperation with over 60 central SOEs, and made progress in propelling SOEs into higher asset securitization rate, realizing the maintenance and appreciation of the value of state-owned assets, expanding financing channels, and improving the quality of listed companies. Next, SZSE will give full play to its functions as the platform for the multi-tiered capital market and strengths in innovative capital formation, continue to increase its capability of direct financing, deepen market reform, enrich product supply, optimize market cultivation, and support the reform of SOEs and the development of private enterprises in a multi-channel and all round way in a bid to strive to develop a capital market ecosystem that is matched with the pilot demonstration area of socialism with Chinese characteristics.