Xinyu Iron and Steel announced on October 20 that the company planned to separate its holding subsidiary Xinhua Metals to go public in Shanghai Stock Exchange. After this separation, the shareholding structure of Xinyu Iron and Steel will not change and Xinyu Iron and Steel will maintain its control on Xinhua Metals. By this separation, Xinhua Metals will go public independently as a platform that focuses on the research and development, production and sales of steel strand for high-strength low-relaxation prestressed concrete and enhance its financial strength through IPO.