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On 13 October 2026, a crane lowered a new sign at the gate of the former Jiangsu Delong Nickel Industry plant in the Xiangshui Coastal Economic Development Zone, Yancheng, Jiangsu Province. The new name on the board is Jiangsu Xiangyu Stainless Steel Co., Ltd. — and with that change, one of the most consequential ownership shifts in China’s stainless steel industry moved from rumour to completed fact.
For buyers in Europe, the Middle East, Southeast Asia and the Americas, this is not simply a corporate rebranding story. Delong was a major global supplier of stainless steel, and any change in who owns and operates its smelting assets has a direct bearing on contract counterparties, mill certificates, lead times and price stability. This article explains what happened, who is now in control, and what procurement teams should check before placing their next order.
What Changed at the Xiangshui Plant
The renaming follows the completion of both the industrial and commercial registration change and the equity transfer. According to the announcement, the key facts are:
- Jiangsu Delong Nickel Industry, formerly a stainless steel giant with annual revenue of RMB 169.5 billion, ranked 47th among China’s Top 500 Private Enterprises and was at one point the world’s second-largest stainless steel supplier.
- The company has now exited stainless steel industrial operations.
- Xiamen Xiangyu Group, a state-owned enterprise group based in Xiamen, has taken over Delong’s core stainless steel smelting assets and the related interests in Xiamen Xiangsheng Nickel Industry through wholly owned investment platforms including Xiamen Gangyu Investment.
- The northern Jiangsu stainless steel industrial base therefore has a new operating entity.
The practical significance is straightforward: the smelting capacity has not disappeared, but the legal entity that owns and runs it has changed. That distinction matters far more to a purchasing manager than the brand name on the gate.
Who Is Xiangyu Group?
Xiamen Xiangyu Group is a large state-owned enterprise group headquartered in Xiamen, Fujian Province. Its listed arm, Xiamen Xiangyu Co., Ltd. (SSE: 600057), is one of China’s leading bulk commodity supply chain service providers, with operations spanning metals, energy, agricultural products and logistics.
This background explains the logic of the transaction. Xiangyu is not a newcomer to commodity flows — it is a supply chain operator that already moves large volumes of metal across international markets. Taking control of integrated stainless steel smelting assets allows it to link upstream production with its existing trading, financing and logistics network.
For overseas buyers, a state-owned parent typically implies greater financial stability and a lower risk of abrupt production stoppages than a privately held entity under financial stress. It does not, however, automatically mean that commercial terms, documentation practices or acceptance of existing contracts will remain identical.
Why It Matters for Stainless Steel Buyers
When a mill changes owner, four things can shift on the buyer’s side of the desk:
1. The contracting party
Purchase orders and sales contracts previously signed with Jiangsu Delong Nickel Industry may need to be re-issued in the name of the new entity. Orders that are mid-production should be reviewed to confirm which legal entity will issue the invoice and bear warranty obligations.
2. Mill test certificates and traceability documents
EN 10204 3.1 certificates, ASTM A312/A358 test reports and ISO 9001 documentation all carry the producer’s name. A change of name means the certificate template, letterhead and authorised signatory will change too. Buyers who require certificates to match a specific approved supplier list should update their internal vendor records.
3. Origin and export documentation
Certificates of origin, export licences and customs declarations are issued against the registered company name. A mismatch between the commercial invoice entity and the certificate of origin can hold up clearance at destination.
4. Commercial continuity during the transition
Ownership transitions inevitably bring changes in sales teams, credit terms and approval workflows. Buyers with long-term agreements should confirm in writing that pricing, tolerances and delivery schedules remain in force.
What to Verify Before Your Next Order
The table below is a practical checklist for procurement teams sourcing stainless steel from the former Delong assets, or from any supplier whose upstream mill has changed ownership.
| Artículo | What to Confirm |
|---|---|
| Contract entity | The exact registered name, unified social credit code and bank account of the new operating company. |
| MTC header | Whether certificates will be issued under Jiangsu Xiangyu Stainless Steel, and whether your specification accepts that name. |
| Quality system | Continuity of ISO 9001 / PED / AD 2000 approvals under the new legal entity. |
| Existing POs | Written confirmation that open orders will be honoured at the agreed price and delivery date. |
| Origin documents | That the certificate of origin will match the invoicing entity to avoid customs delays. |
What Does Not Change
It is worth keeping the change in proportion. The physical plant, the production lines and the metallurgical know-how remain in place. The grades produced — 304, 316L, 321, 2205 duplex and other austenitic and duplex stainless steels — are defined by international standards such as ASTM A240, ASTM A312 and EN 10088, not by the owner’s name. A 316L coil rolled to ASTM A240 will still meet ASTM A240 after the sign at the gate is repainted.
What changes is the commercial and documentary layer around the metal. That is precisely where buyers should focus their attention.
PREGUNTAS FRECUENTES
Is Jiangsu Delong Nickel Industry still operating?
The company has exited stainless steel industrial operations. The smelting assets are now operated under the new entity, Jiangsu Xiangyu Stainless Steel Co., Ltd., controlled by Xiamen Xiangyu Group.
Will this affect stainless steel prices?
Ownership change alone does not determine price. Prices are driven primarily by nickel, chromium and ferroalloy costs, energy prices and demand from the construction, process and shipbuilding sectors. Buyers should watch raw material trends rather than the corporate name change.
Should existing contracts be re-signed?
Where the contracting entity has changed, yes. Ask your supplier to confirm in writing which legal entity will invoice the order and issue the mill certificate.
Does a state-owned owner guarantee supply stability?
It generally improves financial stability, but it does not remove commercial risk. Delivery performance still depends on order books, raw material availability and production scheduling.
Need a Reliable Stainless Steel Pipe Supplier?
KAYSUNS supplies tubos de acero inoxidable, accesorios de tuberia, flanges and nickel alloy pipes to industrial buyers worldwide, with full material traceability to EN 10204 3.1 and compliance with ASTM, EN and JIS standards. If your supply chain has been affected by a mill ownership change, our team can help you re-qualify the material and keep your project on schedule.
Contact us at [email protected] with your specifications, quantities and destination port, and we will respond with a technical review and quotation.
