Hualing Steel (000932) December 24 evening announcement, in order to solve the company's major shareholders in Jiangsu Tin Steel Group Co., Ltd. and the company's competition, the company intends to set up a wholly-owned subsidiary of Hunan Hualing Steel Pipe Holdings Limited by the company owned by the holding subsidiary Hengyang Hualing Steel Pipe Co., Ltd. 67.13% of the equity , the company's major shareholders in the 55% of its holdings of Tin Steel Group, the other shareholders of the Tin Steel Group in its possession of the 45% per cent of the tin Steel Group to increase investment in steel tube holdings to achieve the company's steel pipe business integration, hualing Group on schedule to meet the commitment to solve potential competition issues.
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