Yangchun New Iron and Steel Co., Ltd., a subsidiary of Hunan Valin Steel, is launching a CNY 470.43 million project to upgrade its high-speed wire rod production line, aiming to shift the company's focus from construction materials to industrial-grade products.

The project, with a 12-month construction timeline, is scheduled to start in October 2025 and begin operations in October 2026. The new line will have a designed annual capacity of 600,000 tons and will primarily produce high-quality industrial wire rods.

This project responds to the declining construction market and the growing demand for industrial materials in the region. The project is expected to optimize the company's product structure and profitability.