Lingyuan Iron & Steel to absorb subsidiary; notifies creditors

Lingyuan Iron & Steel has announced that it will absorb its wholly-owned subsidiary, Lingang Steel Beipiao Steel Pipe Co. Ltd. The decision, approved by the board on June 12, 2025, and shareholders on June 30, aims to improve management efficiency, reduce operating costs, and decrease the number of loss-making entities within the group. Upon completion of the merger, Beipiao Steel Pipe's legal entity status will be cancelled, with all assets, liabilities, and personnel being integrated into Lingyuan Iron & Steel. Creditors have 45 days from the announcement date to claim debts or request guarantees.