Xinjiang Communications Construction (SZ:002941) Shang Hai Zheng Quan Bao·2025-10-13 20:04Core Viewpoint - The company has approved a resolution for the absorption merger of its wholly-owned subsidiaries to optimize resource allocation, reduce management costs, and enhance operational efficiency [3][6][14] Group 1: Board Meeting Details - The board meeting was held on October 13, 2025, with all nine directors present, confirming the meeting's legality and compliance with relevant laws [2][4] - The resolution regarding the absorption merger was unanimously approved with nine votes in favor [4] Group 2: Merger Overview - The merger involves the absorption of Xinjiang Jiaojian Tongda New Material Technology Co., Ltd. by Xinjiang Municipal Rail Transit Co., Ltd., with the latter continuing to operate post-merger [3][6] - The merger does not constitute a related party transaction or a significant asset restructuring as defined by regulations [6] Group 3: Financial and Operational Details - Xinjiang Municipal Rail Transit Co., Ltd. has a registered capital of 45 million RMB, while Xinjiang Jiaojian Tongda New Material Technology Co., Ltd. has a registered capital of 10 million RMB [8][10] - Post-merger, the registered capital of Xinjiang Municipal Rail Transit Co., Ltd. will increase to 55 million RMB [13] Group 4: Purpose and Impact of the Merger - The merger aims to enhance the overall scale and management efficiency of Xinjiang Municipal Rail Transit Co., Ltd., thereby strengthening its market competitiveness [14] - The merger is expected to have no substantial impact on the company's normal operations or financial status, ensuring the protection of shareholder interests, particularly for minority shareholders [14]