Is Lengshuijiang Iron Works really going to close down?

No. Lengshuijiang Iron and Steel Group Co., Ltd. (formerly Lengshuijiang Iron and Steel General Factory) is located in Lengshuijiang City, central Hunan Province, bordering Hunan-Guizhou Railway in the east and Zijiang River in the south. Founded in 1958, it is one of the three major steel production bases in Hunan Province. In 2006, the sales revenue exceeded 6 billion yuan, and the steel output reached 3 million tons in 2007. Leng Gang Group has entered the top 500 Chinese enterprises (ranked 468) and the top 500 China manufacturing enterprises (ranked 246). It is one of the top 100 economic enterprises in Hunan Province and one of the eight major profit and tax households. By 2022, the iron works were still open, so they did not close down.