Big news! Xing Steel restructuring work completed, Puyang iron and Steel full control of Xing Steel

On 5th, Puyang and Xing Steel jointly issued a letter to our customers. On July 10, 2021, Hebei Puyang Iron & Steel Co., Ltd. completed the equity restructuring of Xing Steel. Puyang Iron and Steel's holding of Xing Steel has been recognized and positively evaluated by xingtai Municipal Party Committee and municipal government, as well as unanimously supported by all employees of Xing Steel. After the reorganization of Xing Steel will adhere to the development of special steel road, vigorously develop automotive steel and high-end steel business strategy will not change. Taking advantage of the strong economic strength, excellent management experience and strong industry resources of Puyang Iron and Steel. Through the strong alliance, the product quality, delivery speed, after-sales service and other aspects will be more perfect and fast. To build Xinxing steel into a benchmark enterprise of special steel, protect the interests of upstream and downstream partners to the greatest extent, and create more value for the society! Hereby, we would like to extend our sincere thanks to all the partners who have been supporting the development of Xing Steel.

Previously, Xing Steel restructuring work completed, Puyang Iron and Steel full control of Xing Steel. Since July 11, Xing Steel company officially entered puyang company holding stage. Xingtai city people's government open investment, Hebei Puyang Iron and Steel Co., Ltd. holding Xing Steel Company. On the afternoon of July 11, Xingtai Steel company held a senior management meeting, Xingtai City government deputy secretary-general Wei Huabei announced on behalf of the Xingtai city government and xindu district government, xingtai Steel equity restructuring work was successfully concluded, after the reorganization of Xing Steel by Puyang Iron and Steel Co., LTD. 74%, hebei State-controlled Group shareholding 26%.