General Steel Holdings, Inc. (NYSE:GSI) is planning to divest stakes in Maoming Hengda Steel Group Limited (Maoming Hengda) and Shaanxi Longmen Iron and Steel Co., Ltd (Longmen Joint Venture). General Steel Holdings Board of Directors has authorized the General Steel Holdings's management to investigate and pursue the potential sale of all its ownership in Maoming Hengda Steel Group and Shaanxi Longmen Iron and Steel Coin order to unlock the hidden value in Maoming Hengda's land assets, divest and restructure steel business. General Steel Holdings's management has begun to investigate and pursue the potential sale of its land assets, and divesting and restructuring its non-profitable steel production business while retaining its current steel and iron ore trading activities and using the proceeds received from any such transaction to more fully develop and grow its cleantech business.

Given the Board's written consent, General Steel Holdings is engaging in preliminary discussions with potential purchasers for Maoming Hengda and Longmen Joint Venture, and as a result.