en.Wedoany.com Reported - According to the official website of Yodoko Steel Co., Ltd. (YODOKO, hereinafter referred to as Yodoko Steel), on June 26, 2026, the "Announcement on the Sale of Equity in a Consolidated Subsidiary and Loss of Control over the Consolidated Subsidiary" was released.
Yodoko Steel plans to transfer 95% of the equity in Yodoko Shengyu (Hefei) High-Tech Steel Sheet Co., Ltd., with a total transaction price of 232.75 million yuan. The transferee is Hebei Xinjin Wanli New Material Technology Co., Ltd., and the transaction is expected to be completed in early August. Details are as follows:
In accordance with Article 370 of Japan's Companies Act, the Board of Directors of Yodoko Steel passed a resolution on June 26, 2026, to transfer part of the equity in its consolidated subsidiary, Yodoko Shengyu (Hefei) High-Tech Steel Sheet Co., Ltd. The company's designated consolidated subsidiary, Sheng Yu Steel Co., Ltd., also passed a resolution on the same day to transfer all of its equity in Yodoko Shengyu (Hefei).
Yodoko Steel established Yodoko Shengyu (Hefei) in October 2011, primarily engaged in the production and sale of galvanized steel sheets and color-coated steel sheets in the Chinese market. Affected by recent changes in the industry's operating environment, management determined that concentrating the group's management resources on high-quality core overseas businesses would better enhance the overall corporate value, leading to the decision to transfer the equity in the Hefei subsidiary.
On May 11, 2026, Yodoko Steel issued the "Announcement on the Termination of the Basic Agreement for the Transfer of Subsidiary Equity and Change of Intended Transferee," stating that negotiations with Shanghai Qinheng International Trade Co., Ltd. for the equity transfer had been terminated, and a new intended acquirer was being contacted. After negotiations, Sheng Yu Steel Co., Ltd. has officially signed an equity transfer agreement with Hebei Xinjin Wanli New Material Technology Co., Ltd. today.
Yodoko Shengyu (Hefei) High-Tech Steel Sheet Co., Ltd.
Established on October 28, 2011, with Chairman Atsushi Nakatani, located in Hefei City, Anhui Province. The company is jointly invested by YODOKO Co., Ltd. of Japan and Sheng Yu Co., Ltd., focusing on the production and manufacturing of high-tech steel sheets. As a steel enterprise, the company primarily engages in the research, development, and production of steel sheets and related products.
Major Shareholders and Shareholding Ratios
Yodoko Steel Co., Ltd.: 79.09%
Sheng Yu Steel Co., Ltd. (Designated Consolidated Subsidiary of the Group): 20.91%
Pre- and Post-Transfer Status
Pre-Transfer Status
Total Shareholding: 100% (Voting Rights 100%)
Yodoko Steel 79.09%, Sheng Yu Steel 20.91%
Total Equity Transferred This Time: 95% (Voting Rights 95%)
Of which, Yodoko Steel transfers 74.09%, Sheng Yu Steel transfers 20.91%
Total Equity Transfer Price: 232.75 million RMB
Yodoko Steel receives 181.522705 million RMB, Sheng Yu Steel receives 51.227295 million RMB
Post-Transfer Status
Remaining Shareholding: 5% (Voting Rights 5%)
Only Yodoko Steel holds 5%, all shares of Sheng Yu Steel have been transferred
Transaction Timeline
Board Resolution Passed: June 26, 2026
Equity Transfer Agreement Signed: June 26, 2026
Equity Transfer Completion: Early August 2026 (Tentative)
Hebei Xinjin Wanli New Material Technology Co., Ltd.
Hebei Xinjin Wanli New Material Technology Co., Ltd., established in 2011, headquartered in Cishan Town, Wu'an City, Hebei Province, is a wholly-owned subsidiary of Xinjin Group. We are consistently dedicated to the research, development, and manufacturing of high-end metal new materials, forming a full industry chain from sintering, ironmaking, steelmaking to hot rolling, cold rolling, galvanizing, color coating, and shearing and distribution. It is the first private steel enterprise in Hebei Province to achieve full-process production of steel for home appliances.
Xinjin Group
Founded in 1993, after more than 30 years of steel dream pursuit, transformation and upgrading, and diversified expansion, Xinjin Group has formed a pattern with steel as the leading industry, coordinated development of multiple strategic emerging industries including technology, finance, investment, foreign trade, tourism, coking, casting, and new energy. The company has repeatedly ranked among China's Top 500 Enterprises, China's Top 500 Manufacturing Enterprises, and Hebei Province's Top 100 Enterprises, and has received over a hundred honorary titles such as the national "Capital Blue Sky Action Science and Technology Demonstration Project" and "First Batch of National Green Factories."
The completion of this transaction marks Yodoko Steel's contraction of its coating plate layout in China, while Hebei Xinjin Wanli leverages this to improve its high-end sheet capacity layout in East China, relying on the group's full industry chain advantages to expand the home appliance steel sheet market, injecting new momentum into the coordinated development of the northern and southern steel industries.
