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Is Hangzhou Fuchun Smart Supply Chain Co., Ltd. controlled by Hanggang Group?

Hangzhou Fuchun Smart Supply Chain Co., Ltd. is the holding company of Hangzhou Steel Group.

Because Hangzhou Fuchun Smart Supply Chain Co., Ltd. is a state-owned enterprise, the controlling shareholder is Hangzhou Iron and Steel Group Corporation (holding 65.07%), and the State-owned Assets Supervision and Administration Commission of Zhejiang Province is the exclusive shareholder of Hangzhou Iron and Steel Group Corporation. Therefore, Hangzhou Fuchun Smart Supply Chain Co., Ltd. is controlled by Hangzhou Steel Group.

Holding refers to holding a certain number of shares (more than half or relative majority) to control the company's business.