Xining Special Steel adjusts business scope, expects asset impairment

Xining Special Steel (SSE:600117) will adjust its business scope to include operations from its merged entity, Qinghai Xigang Renewable Resources Comprehensive Utilization Development Co., Ltd. The decision, approved by the board on February 28, 2025, necessitates amending the company's Articles of Association pending shareholder and regulatory approval. The expansion encompasses diverse activities, including metal processing, resource recycling, technical services, and equipment manufacturing.