Shandong Iron And Steel Company Ltd (600022.SH) announced that its subsidiary Laiwu Iron and Steel Metallurgical Ecology Engineering Technology Co., Ltd. (referred to as "Metallurgical Ecology") has ceased operations. To focus on core business development, streamline inefficient and non-performing assets, and safeguard the legitimate rights and interests of the company and its shareholders, the board of directors has approved Metallurgical Ecology's application for bankruptcy liquidation as a debtor in accordance with the Enterprise Bankruptcy Law of the People's Republic of China.
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