Hebei Province-based major Chinese steelmaker Jingye Steel Co., Ltd. has become the 100% sole shareholder of Jiangsu Province-based Lianyungang Xingxin Steel Co., Ltd., as reported by the National Enterprise Credit Information Publicity System.
Lianyungang Xingxin Steel was set up in October 2003, with total assets exceeding RMB 8 billion, while its annual output value exceeded RMB 10 billion. The company has four main production mills for sintering, iron-making, steelmaking and steel rolling. The annual production outputs for molten iron, crude steel and finished steel amounted to 3.0 million mt, 3.0 million mt and 2.4 million mt, while the company’s rebar has been well received in eastern China, including in the provinces of Zhejiang, and Jiangsu and in Shanghai.
Jingye Group registered an operating revenue of RMB 340.7 billion in 2023.
