Dongbei Special Steel Explained

Dongbei Special Steel
Type:state-owned enterprise
Founded:2004
Founder:Liaoning and Heilongjiang Governments
Hq Location City:Dalian, Liaoning
Hq Location Country:China
Revenue Year:2014
Income Year:2014
Net Income Year:2014
Assets Year:2014
Equity Year:2014
Parent:State-owned Assets Supervision & Administration Commission of Liaoning Government
Website:dtsteel.com
Footnotes:in a consolidated basis[1]
Dongbei Special Steel Group Co., Ltd.
S:东北特殊钢集团有限责任公司
T:東北特殊鋼集團有限責任公司
P:Dōngběi tèshū gāng jítuán yǒuxiàn zérèn gōngsī
Order:st

Dongbei Special Steel Group Co., Ltd. is a state-owned enterprise based in Dalian, Liaoning Province (the south most city of Northeastern China or Dongbei). It was owned by State-owned Assets Supervision and Administration Commission (SASAC) of the Provincial Government of Liaoning (46.1230%) and Heilongjiang (14.5191%), as well as a subsidiary of Liaoning SASAC (22.6839%) and China Orient Asset Management (16.6740%).[1]

The company was formed by the merger of Dalian Special Steel (aka Liaoning Special Steel Group) and Beiman Special Steel Group (literally North Manchuria Special Steel) in 2004. Dongbei Special Steel became the holding company of the two steel maker, plus Fushun Special Steel, a subsidiary of Liaoning Special Steel Group.[1]

In 2016 the enterprise defaulted[2] several times. Chairman Yang Hua committed suicide in March 2016, four days before the first default.[3]

Subsidiaries

Equity investment

Dongbei Special Steel owned 38.58% stake in Fushun Special Steel, based in Fushun, Liaoning, as the largest shareholder. The shares of the company float in Shanghai Stock Exchange.[4]

Notes and References

  1. Web site: 2014 Annual Report. 30 April 2015. 29 September 2016. Dongbei Special Steel Group Co., Ltd.. Shanghai Clearing House. Chinese. 2 October 2016. https://web.archive.org/web/20161002183454/http://www.shclearing.com/xxpl/cwbg/nb/201505/t20150502_85661.html. dead.
  2. Web site: China's Dongbei Special Steel defaults on $131M debt. 29 March 2016. 29 September 2016. Financial Times.
  3. Web site: Major Chinese state steel maker starts bankruptcy process after failed debt-to-equity attempt. South China Morning Post. 13 October 2016. 5 November 2021. 5 November 2021. https://archive.today/20211105164819/https://www.scmp.com/news/china/article/2027816/major-chinese-state-steel-maker-starts-bankruptcy-process-after-failed. Sidney. Leng. live.
  4. Web site: 2015 Annual Report. 30 March 2016. 29 September 2016. Fushun Special Steel Co., Ltd.. hosted by cninfo.com.cn. Chinese. https://web.archive.org/web/20161002160758/http://www.cninfo.com.cn/cninfo-new/disclosure/sse/bulletin_detail/true/1202104473?announceTime=2016-03-30. 2 October 2016. dead.