HESTEEL(SZ:000709)2022-12-05 05:50Group 1: Capacity Reduction - The company plans to eliminate iron capacity of 1.56 million tons and steel capacity of 2.86 million tons between 2016 and 2017 [1] - In 2016, the company completed a reduction of 520,000 tons in iron capacity and 830,000 tons in steel capacity, with the remaining reductions scheduled to be completed by September 2017 [2] Group 2: Employee Placement - All employees affected by the capacity reduction will be internally reassigned within the Hebei Steel Group, with no layoffs directed towards the public [2] Group 3: Provincial Capacity Goals - The Hebei provincial government aims to reduce steel capacity by 15.62 million tons and iron capacity by 16.24 million tons in 2017 [2] Group 4: Product Sales Composition - The company's steel products consist of approximately two-thirds plates and one-third long products, with direct sales being the primary method of distribution [2] Group 5: Relocation of Xuan Steel - Xuan Steel is scheduled to cease operations by 2020, with capacity transfer projects set to begin construction in April 2017 and production expected to start by June 2019 [2]