Xiamen Gulangyu Investment Co., Ltd, an investment company based in Fujian Province. (Gangyu Investment), a wholly owned subsidiary of Xiamen Xiangyu Group Co., Ltd., has signed a restructuring investment agreement with Jiangsu Delong Nickel Industry Co., Ltd. and 30 other companies to acquire Jiangsu Delong Nickel Industry Co., Ltd. stainless steel smelter. (business purpose). The target business consists of equity interests and assets of some subsidiaries of Delong Nickel, and is mainly engaged in the production and sale of nickel alloys, raw stainless steel, hot-rolled stainless steel coils and cold-rolled stainless steel coils, as well as other businesses.
Prior to this transaction, Target's business was fully controlled by Delong Nickel, which is currently undergoing bankruptcy restructuring. After this transaction, the target business will be under the sole control of Gangyu. Investment.
Gangyu Investment Company was founded on August 6, 2026 in Fujian Province.
On October 13, Jiangsu Xiangyu Stainless Steel Co., Ltd. officially announced the launch of its signage on the gates of Jiangsu Delong Nickel Industry Co., Ltd. In the future, the name "Delong" will most likely no longer appear on the stainless steel market. This not only reflects the deep restructuring of the company. China's domestic stainless steel industry is developing under the conditions of reorganization of production facilities and survival of the fittest, but this also means that Xiamen Xiangyu Group continues to strengthen its presence in the nickel and stainless steel production chain.
Jiangsu Delong started its operations in Xiangshui County, Yancheng City, Jiangsu Province, and built a complete production chain from nickel and iron production to stainless steel production, ranking among the 500 largest private companies in China. enterprises, but eventually underwent restructuring and changed ownership due to overly aggressive expansion, high debts and a downturn in the industry.
There are no comments yet.