Maanshan Iron & Steel Co (HK:0323) has released an update.
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Maanshan Iron & Steel Co has approved a capital contribution of RMB1 billion to establish a wholly-owned subsidiary, Maanshan Iron & Steel Limited Company, in Maanshan City. This new entity will engage in a range of activities including steel production, chemical product sales, and freight services, among others. The investment does not involve a major asset restructuring or connected transaction.
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