Shanxi Coking Company Explained

Shanxi Coking
Type:public
Industry:Coal
Founder:Shanxi Coking Group
Hq Location:Hongtong County
Hq Location City:Linfen
Hq Location Country:China
Products:Coke, methanol and coal related products
Revenue Year:2015
Income Year:2015
Net Income Year:2015
Assets Year:2015
Equity Year:2015
Footnotes:in a consolidated basis[1]

Shanxi Coking Co., Ltd. (SCC) is a publicly traded coke manufacturing conglomerate in China. The company was listed on Shanghai Stock Exchange.

In 2015 Shanxi Coking had sold 3.25 million tons of coke, 233.9 thousand tons of methanol, 62.4 thousand tons of carbon black, 91.9 thousand tons of asphalt and 14.9 thousand tons of coking toluene .[2] The listed company also had a massive related deal with its largest shareholder Shanxi Coking Coal Group, which purchased of coal from the company in 2015.[1] [2]

History

Shanxi Coking Co., Ltd. was incorporated on 23 October 1995 as company limited by shares, as a subsidiary of Shanxi Coking Group . On 8 August 1996, the shares of the company started to float on Shanghai Stock Exchange.[3] In 2001 the parent company merged with other companies to form Shanxi Coking Coal Group . In 2005 Shanxi Coking Group sold 24.19% stake of the listed company to Xishan Coal and Electricity Power another listed company and subsidiary of Shanxi Coking Coal Group for (per share).[4] After the deal Shanxi Coking Group owned 34.15% stake and Xishan Coal & Electricity Power owned 24.19% stake. After several capital increases, Shanxi Coking Group owned 14.22% stake and Xishan Coal & Electricity Power owned 11.50% stake only.

A backdoor listing of 49% equity stake in Huajin Energy was announced in April 2016 by issuing new shares and cash to acquire from Shanxi Coking Group. The rest of the stake was owned by another listed company (and competitor) China Coal Energy.[5] After the deal, Shanxi Coking Coal Group would owned 47.87% stake of the listed company via wholly owned subsidiary Shanxi Coking Group and 5.27% stake via subsidiary Xishan Coal and Electricity Power.[5]

According to China Coal Energy, Huajin Energy produced 9.95 million tonnes of coal in 2015, accounted for 10.4% total production mass of China Coal Energy.[6]

Shareholders

As at 31 December 2015, Shanxi Coking Group owned 14.22% stake as the largest shareholder. It was followed by Xishan Coal and Electricity Power (11.50%), both subsidiary of Shanxi Coking Coal Group.

Notes and References

  1. Web site: 2015 Auditor's Report. 29 March 2016. 1 November 2016. Shanxi Coking Co., Ltd.. Shanghai Stock Exchange. Chinese.
  2. Web site: 2015 Annual Report. 3 November 2016. Shanxi Coking Co., Ltd.. Shanghai Stock Exchange. Chinese.
  3. Web site: 山西焦化股份有限公司600740: 公司概况. 1 November 2016. Shanghai Stock Exchange. Chinese.
  4. Web site: 山西西山煤电股份有限公司董事会关联交易公告. 22 February 2005. 1 November 2016. Xishan Coal and Electricity Power. Shenzhen Stock Exchange. Chinese.
  5. Web site: 山西焦化发行股份及支付现金购买资产并募集配套资金暨关联交易预案(修订稿). 27 April 2016. 1 November 2016. Shanxi Coking Co., Ltd.. Shanghai Stock Exchange. Chinese.
  6. Web site: 2015 Annual Report. 29 April 2016. 1 November 2016. China Coal Energy. Hong Kong Stock Exchange.