Jiugang Hongxing streamlines operations, executive resigns

Gansu Jiu Steel Group Hongxing Iron & Steel (SSE:600307) is streamlining its corporate structure, according to a series of announcements. The company will merge its wholly-owned subsidiary, Zhengtai Logistics, into another wholly-owned subsidiary, Jiali Hui Trading, in a move designed to optimize asset management and improve operational efficiency. Zhengtai Logistics will be dissolved, with all assets, liabilities, and personnel transferred to Jiali Hui. Separately, Jiugang Hongxing announced the resignation of Deputy General Manager Zhang Lei due to a job change. Zhang’s responsibilities will cease immediately. The company expressed gratitude for his service. These changes, approved by the board, are not expected to have a material impact on the company's financials or shareholder equity.