Meishan Iron and Steel explained

Meishan Iron and Steel
Industry:Iron and steel manufacturing
Founder:Shanghai Meishan Group
Hq Location City:Nanjing
Hq Location Country:China
Revenue Year:2014
Income Year:2014
Net Income Year:2014
Assets Year:2014
Equity Year:2014
Parent:Baoshan Iron and Steel
Footnotes:in a consolidated basis[1]
Shanghai Meishan Iron and Steel Co., Ltd.
S:上海梅山钢铁股份有限公司
T:上海梅山鋼鐵股份有限公司
P:Shànghǎi méishān gāngtiě gǔfèn yǒuxiàn gōngsī
L:Shanghai Meishan Steel and Iron Company Limited by Shares
Order:st

Shanghai Meishan Iron and Steel Co., Ltd., known as Meishan Iron and Steel, or Meisteel or Meigang is a second-tier subsidiary of Baowu (formerly known as Baosteel Group) and a first-tier subsidiary of listed company Baoshan Iron and Steel Co., Ltd. (Baosteel). The company was based in Nanjing.

In 2004, Baosteel Group decided to inject Shanghai Meishan Iron and Steel Co., Ltd. to fellow subsidiary Baoshan Iron and Steel Co., Ltd., which is also a listed company.

History

Meishan Iron & Steel

The steel plant at, in Yuhuatai District, Nanjing was founded in 1969[2] [3] by the Shanghai Government. The mine became a quasi-exclave of Shanghai. In 1984, the steel plant and related industries became Shanghai Meishan Metallurgical Corporation .[4] The company was registered in the Government of Nanjing in 1990.

In 1994, a new holding company was formed for Meishan Group, which the mine was spin-off from Meishan Metallurgical Corporation in 1995, while the iron and steel company became Shanghai Meishan Iron and Steel Co., Ltd. .

The company became a subsidiary of Baosteel Group in 1998. Meishan Iron and Steel was listed as one of the 512 most important state-owned enterprises in 1997, in the iron and steel industry segment that consist of 47 companies.[5]

The company was re-incorporated in 2001 by debt-to-equity swap. In 2004, Baosteel Group floated Meishan Iron & Steel at Shanghai Stock Exchange[6] by selling 74.01% shares of Meishan Iron & Steel to its listed subsidiary Baoshan Iron and Steel, for a valuation of (total value times 74.01% shares). The deal was completed in 2005.[7]

In 2008, Meishan Iron & Steel signed a contract with Praxair to build two more new air separation plants in Meishan.[8]

In 2018, it was announced that the steel plant of the company would be relocated to Yancheng, Jiangsu Province in the 2020s.[9]

Former Shanghai Meishan Group

"Shanghai Meishan (Group) Co., Ltd." was the holding company of Meishan Iron & Steel and other subsidiaries. It was founded in 1994.[4] Meishan Group merged with Baosteel Group in 1998.[10] [11] The assets of Meishan Group were absorbed by "Baosteel Group Shanghai Meishan Co., Ltd." some time later. After the partial demerger in 2004, Baosteel Group Shanghai Meishan Ltd. still owned Shanghai Meishan Mining (incorporated in 1995) the mining company in the unlisted portion of the conglomerate. The company became part of "Nanjing Meishan Metallurgical Development", a subsidiary of "Baosteel Group Shanghai Meishan Co., Ltd." in 2010. As at 31 December 2015, "Baosteel Group Shanghai Meishan Co., Ltd." had net assets of just,[12] much smaller in size than its sister company Meishan Iron and Steel.

Shareholders

[1]

Data

Year Turnover Result Total Assets Net Assets
as Shanghai Meishan Group
1994[14] ¥2.1 billion ¥170.7 million ¥4.2 billion ¥1.7 billion
1995
1996
as Meishan Iron and Steel (in a consolidated basis)
2003 ¥6.0 billion ¥585.0 million ¥11.6 billion ¥6.1 billion
2004
2005
2006
2007 ¥13.0 billion ¥1.1 billion ¥13.9 billion ¥11.2 billion
2008[15] ¥14.3 billion ¥0.3 billion ¥20.3 billion 11.5 billion

External links

Notes and References

  1. Web site: http://www.shclearing.com/xxpl/cwbg/nb/201504/t20150430_85476.html. zh:上海梅山钢铁股份有限公司2014年度报告. 2014 Annual Report. 30 April 2015. 6 October 2016. Shanghai Meishan Iron and Steel Co., Ltd.. Shanghai Clearing House. Chinese.
  2. Web site: Shanghai Meishan Iron & Steel Co., Ltd.: Private Company Information - Bloomberg. bloomberg.com. 2017-03-08.
  3. News: http://www.js.xinhuanet.com/2019-04/25/c_1124413827.htm. https://web.archive.org/web/20210518172020/http://www.js.xinhuanet.com/2019-04/25/c_1124413827.htm. dead. May 18, 2021. zh: 在坚守与变革中砥砺前行 上海梅山钢铁股份有公司迎来建厂50周年 . 25 April 2019. 1 December 2019. XinhuaNet. 李园园. 王林盛. zh-cn.
  4. Web site: :::: 上海市地方志办公室 :::: . www.shtong.gov.cn . dead . https://web.archive.org/web/20040902214805/http://www.shtong.gov.cn/node2/node2245/node4540/node56398/index.html . 2004-09-02.
  5. Web site: 关于深化大型企业集团试点工作_范坤_新浪博客.
  6. Web site: http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2004-08-12/600019_20040812_3.pdf. zh:关于资产收购及关联交易的公告. Announcement of Acquisition of Assets and Related-Parties Deal. 12 August 2004. 6 October 2016. Baoshan Iron and Steel. archive of Shanghai Stock Exchange. Chinese.
  7. Web site: 2005 Annual Report. 29 March 2006. 12 October 2016. Boshan Iron and Steel. archive of Shanghai Stock Exchange. Chinese.
  8. Web site: Praxair China Expands Supply Agreement with Meishan Iron & Steel. 1 April 2008. 6 October 2016. Praxair.
  9. http://jxw.nanjing.gov.cn/jxzl/201812/t20181205_1267731.html. zh:省政府与宝武集团签署《战略合作协议》 梅钢将从南京迁往盐城. 南京投资与规划处. zh-cn. 2018-12-05. 1 December 2019.
  10. Web site: Official Journal 1998 N°30. 22 December 1998. 12 October 2016. State Council of China. Chinese.
  11. Web site: http://baosteel.com/group/05steel/ShowArticle.asp?ArticleID=4640. zh:宝钢集团上海梅山有限公司(简称"梅山公司"). Baosteel Group Shanghai Meishan Co., Ltd. (Meishan Co. in short). 6 October 2016. Baosteel Group. Chinese.
  12. Web site: http://www.shclearing.com/xxpl/cwbg/nb/201604/t20160429_148933.html. zh:宝钢集团上海梅山有限公司关于披露2015年年度报告的公告. 2015 Annual Report. 29 April 2016. 6 October 2016. Baosteel Group Shanghai Meishan Co., Ltd.. Shanghai Clearing House. Chinese.
  13. Web site: 2015 Annual Report. 31 March 2016. 3 October 2016. Baoshan Iron and Steel. archive of Shanghai Stock Exchange. Chinese.
  14. Web site: 96梅山债(sh129703)债券公告_新浪财经_新浪网.
  15. Web site: 2008 Annual Report. 24 April 2012. Originally published in 2009. 7 October 2016. Meishan Iron and Steel. Chinabond.com.cn. Chinese.