Overall listing of Panzhihua Steel_Client Success_Our Client_中企华
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The transaction of the overall listing of Panzhihua Steel was complex, involving a total of seven transaction subjects, including three listed companies and four capital injection subjects. The total injected assets amounted to more than RMB 20 billion, involving various industries, multiple units in the financial statements, and widely distributed assets.

CEA conducted sufficient reasoning in terms of the selection of appraisal approaches based on the different situations of capital injection, ultimately guaranteeing the reasonableness and fairness of the overall valuation of injected capital. CEA’s appraisal results successfully went through the record-keeping procedure in the SASAC, and gained praises from review expert panel and the SASAC leaders. Meanwhile, when the Mergers & Acquisitions Committee of the CSRC reviewed the project, it did not propose any dissent against appraisal results.