Tianjin You Fa Steel Pipe Group Stock announced that the company plans to exit its investment in wholly-owned subsidiary Tianjin Wuchan Youfa Industrial Development Co., Ltd. ("Wuchan Youfa") through targeted reduction of capital. After the completion of this targeted reduction of capital, the registered capital of Wuchan Youfa will be reduced from RMB 1 billion to RMB 400 million, and the company will no longer hold any equity in Wuchan Youfa. Wuchan Youfa will no longer be a subsidiary within the scope of the company's consolidated financial statements.
友发集团：拟以定向减资方式退出对控股子公司物产友发的投资
Tianjin You Fa Steel Pipe Group Stock: Intends to withdraw its investment in its wholly-owned subsidiary Wuchan Youfa through targeted reduction of capital.
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