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Luxiang Co Ltd Announces Merger of Subsidiaries; to Write off Subsidiary
Luxiang Co Ltd announced that a Guangzhou-based subsidiary of its asphalt business division will merge with a Shanghai-based, a Wuhan-based, a Chongqing-based and a Xi'an-based subsidiary of the same business division, with the Guangzhou-based one to survive and the other four to be dissolved. The Company will also liquidate its Liaoning-based subsidiary of asphalt business division.
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