Xinxing Ductile Iron Pipes subsidiary completes major steel acquisition

Xinxing Ductile Iron Pipes Co., Ltd. announced the successful completion of its subsidiary Wuhu Xinxing's acquisition of Jiangyin Huarun Steel Co., Ltd. The acquisition, valued at 1.244 billion yuan, was approved by Xinxing Ductile Iron Pipes's board of directors between December 9 and 10, 2025. This move aims to further focus on the core business, promote the adjustment of steel product structure, and vigorously develop the special steel industry.

Following board approval, the transaction parties signed an equity transfer agreement, completed state-owned asset property registration, and Wuhu Xinxing paid 1.244 billion yuan for the equity. Jiangyin Huarun Steel has been officially renamed Jiangyin Xinxing Special Steel Co., Ltd. and its business license updated.

The acquisition also included the termination of the trust agreement for Huarun Steel, with Shanghai Taichen Investment paying 55m yuan in trust fees to Wuhu Xinxing. Additionally, Shanghai Taichen Investment repaid 1.141bn yuan in debt to Xinxing Ductile Iron Pipes Group Resource Investment Development Co., Ltd., which subsequently released the equity pledge on Huarun Steel. Jiangyin Xinxing Special Steel is now fully consolidated into Xinxing Ductile Iron Pipes' financial statements.