Xining Special Steel completes merger of wholly-owned subsidiary

Xining Special Steel Co., Ltd. (SSE: 600117) has finalized the absorption merger of its wholly-owned subsidiary, Qinghai Xigang Special Steel Technology Development Co., Ltd. The merger, approved by shareholders on September 19, 2024, involves Xining Special Steel assuming all assets, liabilities, and operations of the subsidiary. The company has completed the necessary registration changes with the Qinghai Provincial Market Supervision and Administration Bureau, receiving an updated business license on December 11, 2024. Xining Special Steel stated the merger aims to streamline management, boost efficiency, and reduce operating costs. As the subsidiary was already fully consolidated into Xining Special Steel's financial statements, the merger is not expected to significantly impact the company's financial position or performance.