The board of directors of Xinjiang Guotong Pipeline Co., Ltd. convened a temporary meeting to approve two key resolutions. The first resolution involves reducing the registered capital of its subsidiary, Anhui Zhuoliang New Materials Co., Ltd., by RMB 52.0408 million, resulting in the company no longer holding equity in it. The second resolution is to dissolve the Liaoning branch of the company, with management authorized to handle the necessary procedures.
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