Date: 2013-07-31

Xiwang Special Steel to Invest RMB 400 Million on Upgrading Two EAFs

May 30th, Xiwang Special Steel announced to invest RMB400 million on upgrading its two EAFs for stainless steel production.

By focusing on long products (wire rods and steel bars) of stainless steel instead of flat products which are already common in the market, the Directors of Xiwang Special Steel believe the Group has a niche in the stainless steel market. Also, as stainless steel is needed in numerous high growth industries, the Directors believe the growth of stainless steel market will be higher than that of the ordinary steel and other special steels.

In sum, the Directors believe that the development of stainless steel is in line with the strategy of the Group to becoming a leading special steel manufacturer. The production of stainless steel enriches the Group

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Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
LRT404520 IKO	40		20
LRT400450140 IKO	400		140

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