Among sluggish steel stocks, the company, as a leader in the steel plate industry, closed at a record low of RMB 7.21 per share on 5 Aug after falling over six consecutive trading sessions.

Its share price reached a record high of RMB 21.77 per share in October 2007 and surged by 173.5% in 2007 before its current slide, which completely offset the 2007 rise. While the company's share price touched its lowest-ever intraday level at RMB 7.18 per share on 5 Aug, other steel stocks have also performed badly. Handan Iron & Steel Co., Ltd. (600001) closed at RMB 4.24 per share on 5 Aug, which is lower than its net assets per share of RMB 4.38.

Source: Securities Times

Date: 6 Aug 2008

CN01/NW/DM/BT/MM