Baoding Technology (SHE:002552) sold 3,868.5 tons of idle scrap steel held by subsidiary Hexi Gold Mine through a public auction for 10.1 million yuan.
The winning bidder was Baoding Wanqu Group, a related party controlled by major shareholders Zhu Lixia and Zhu Baosong, according to a filing with the Shenzhen bourse.
Shares of the metal manufacturer closed 2% higher Monday.
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