Shandong Iron and Steel (600022.SH) plans to establish a sales subsidiary.

Shandong Iron And Steel (600022.SH) announced that in order to better leverage the synergies between enterprises and regions, optimize regional operations and market layout, the company plans to invest in the establishment of a sales subsidiary, Jinan Shangang Trading Co., Ltd., in Gangcheng District, Jinan City, Shandong Province, with a registered capital of 20 million RMB. The establishment of Jinan Shangang Trading Co., Ltd. will help further optimize regional operations and market layout, leverage regional advantages, expand sales territories, bridge the gap in customer service, implement a localization strategy, enhance the brand influence and profitability of Shangang Company.