Anyang Iron & Steel (600569.SH) terminates the planned major asset restructuring and changes to selling subsidiary shares to controlling shareholders.

Zhixun Finance and Economics APP News, Anyang Iron and Steel (600569.SH) announced that the company held an investor briefing on September 2 to explain the reasons for terminating the major asset restructuring. The main reason is the historical legacy issues related to the land and property rights of Huayang Mining Co., Ltd., a subsidiary of Henan Angang Group, which have hindered the progress according to the original plan. The company has decided to change its plan by selling all shares of Yongtong Company and Yuhe Company held by the controlling shareholder Angang Group to accelerate the improvement of the company's profitability, supplement cash flow, and optimize asset structure. The company stated that terminating the restructuring will not have a significant adverse impact on future performance, and it plans to advance its development strategy of "high-end, intelligent, green, and special steel transformation."