Beijing Shougang Co., Ltd. should not be confused with Shougang Group.
| Beijing Shougang Co., Ltd. | |
| Type: | subsidiary |
| Foundation: | 1999 |
| Founder: | Shougang Corporation |
| Location City: | Beijing |
| Location Country: | China |
| Key People: | Jin Wei (chairman) |
| Area Served: | China |
| Industry: | Steel manufacturing |
| Revenue Year: | 2015 |
| Income Year: | 2015 |
| Net Income Year: | 2015 |
| Assets Year: | 2015 |
| Equity Year: | 2015 |
| Parent: | Shougang Group |
| Subsid: | Jingtang United Iron & Steel (51%) |
| Footnotes: | in a consolidated basis[1] |
Beijing Shougang Co., Ltd. is a listed Chinese steel manufacturer. It also a subsidiary of Shougang Group. The shares of Beijing Shougang float in the Shenzhen Stock Exchange.
Beijing Shougang was a constituent of SZSE 1000 Index (as well as sub-index SZSE 700 Index) but not in SZSE Component Index, making the company was ranked between the 501st to 1,000th by free float adjusted market capitalization.
The company operated Shougang Group's first steel plant in Shijingshan District. The plant closed in 2009.[2] On 23 April 2015 Beijing Shougang Limited acquired 51% stake of "Jingtang United Iron and Steel" from the parent company, a steel plant in Caofeidian District, Tangshan, Hebei Province, for 9.718 billion RMB cash, plus the 100% stake of a division in Guizhou Province.
Shougang Jingtang United Iron & Steel Co., Ltd. was a joint venture between Shougang Group (51%) and Tangsteel Group (49%). The steel plant was built on modern technology as well as acquiring equipment from overseas, such as from Siemens.[3] It was mentioned in the 11th Five-year plan.[4] In 2010 Tangsteel Group sold the minority interests to Shougang Group. After a net loss of 3.65 billion RMB and 1.76 billion RMB in 2012 and 2013 respectively, the company made a net profit of 124 million RMB in 2014.[5]
In 2015 51% stake of the steel plant was injected to Shougang Group's listed subsidiary Beijing Shougang Co., Ltd., which the subsidiary paid the parent company mostly in cash. Shougang Group retained 49% stake directly.