Shaoguan Iron and Steel explained

Shaoguan Iron and Steel should not be confused with Shougang Corporation.

Baosteel Group Guangdong Shaoguan Iron and Steel
Type:state-owned enterprise
Industry:Iron and steel manufacturing
Former Name:Shaoguan Iron and Steel Group
Key People:Li Shi-ping (Charmian & Party Committee Secretary)
Revenue Year:2016
Income Year:2016
Net Income Year:2016
Assets Year:2016
Equity Year:2016
Footnotes:in consolidated financial statement
Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd.
S:宝钢集团广东韶关钢铁有限公司
T:寶鋼集團廣東韶關鋼鐵有限公司
P:Bǎogāng jítuán guǎngdōng sháoguān gāngtiě yǒuxiàn gōngsī
Order:st
SGIS Songshan Co., Ltd.
S:广东韶钢松山股份有限公司
T:廣東韶鋼松山股份有限公司
P:Guǎngdōng sháogāng sōngshān gǔfèn yǒuxiàn gōngsī
L:Guangdong Shaoguan Iron and Steel Songshan Company Limited by Shares
Order:st

Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. known as Shaoguan Iron and Steel or SGIS or Shaogang or Shaosteel (formerly Shaoguan Iron and Steel Group) is a Chinese steel maker.

The company is a joint venture of central government-owned iron and steel conglomerate China Baowu Steel Group (51%; formerly known as Baosteel Group) and (49%).

Structure

The company was registered in Guangzhou, Guangdong, but the general office is located in Maba, Qujiang District, Shaoguan, Guangdong. SGIS Group is the parent company of SGIS Songshan Co., Ltd. for 53.37% stake, which most of the group assets and revenue came from.

History

The steel plant in Shaogang, Guangdong was established in 1966 (as). In 1989 the plant was marketized as a company and was subsequently renamed into Guangdong Shaoguan Iron and Steel Group Corporation in December 1993. In December 1996, it became Guangdong Shaoguan Iron and Steel Group Co., Ltd. Shaoguan Iron and Steel was one of the most 512 important state-owned enterprises in 1997. In early 2000, the enterprise was among 120 companies selected in a pilot project aimed at rapidly improving their international competitiveness.[1]

Subsidiaries

In 1997, Shaoguan Iron and Steel Group was split into 5 main subsidiaries: SGIS Songshan (incorporated on 29 April 1997), "Chung Shan Investment & Development" ("Chung Shan Development" in short),[2] "Shaoguan Iron and Steel Co., Ltd.", and two other subsidiaries. In the same year the shares of SGIS Songshan were floated at the Shenzhen Stock Exchange.[3] The initial public offering price was per share;[4] SGIS Group incorporated the listed company for only, by injecting a net assets of for 240 million shares.[4]

In 2008, an agreement was signed with Baosteel Group that 100% shares of Shaoguan Iron and Steel Group and would be injected into "Guangdong Iron and Steel Group" as share capital. As a result, the State-owned Assets Supervision and Administration Commissions (SASACs) of Guangdong Province and Guangzhou City respectively, would come to own a combined 20% stake in Guangdong Iron and Steel Group. However, the deal collapsed.

In 2011, a 51% stake of Shaoguan Iron and Steel Group was transferred from SASAC of Guangdong Province to Baosteel Group, a steel conglomerate and supervised by the central government's SASAC.[5]

In September 2012, the remaining 49% were transferred to a wholly owned subsidiary of Guangdong SASAC, namely Guangdong Hengjian Investment Holding . In November 2012 Shaoguan Iron and Steel Group was recapitalized for .[6]

In December 2012, the company was once more renamed into Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. .[7]

In June 2013 SGIS Group subscribed capital increase of SGIS Songshan for each (750 million shares). In March 2015 SGIS Group sold 2.976% shares (72 million shares) of SGIS Songshan for a weighed-average price of .[8] In September 2015 the group bought back 0.32% shares (approx. 7.7 million in number) for a weighed-average of each.[9]

On 28 September 2016, Shaoguan Iron and Steel Group was recapitalized again for .[10] It was planned to buy back some assets from the listed subsidiary for .[11] SGIS Songshan also sold some assets to an associate company: Baosteel Special Steel Shaoguan for (SGIS Songshan owned 49% of Baosteel Special Steel Shaoguan indirectly, the rest was owned by China Baowu Steel Group via Baosteel Special Steel).[12]

Financial data

+in consolidated financial statement (in)
Shaoguan Iron and Steel GroupSGIS Songshan
YearRevenueProfitTotal assetsEquityno. of Songshan shares%RevenueProfitProfit to groupTotal assetsEquityEquity to groupNet asset per shares
1997 (restated)[13] 240 million 75.0% 170 million 128 million 1.373 billion 1.135 billion 852 million 3.55
1998 (restated)[14] 312 million 2.671 billion 176 million 132 million 2.490 billion 1.907 billion 1.430 billion 4.56
1999 (restated)[15] 312 million 3.048 billion 164 million 123 million 2.412 billion 1.988 billion 1.491 billion 4.78
2000 (restated)[16] 69.77% 3.346 billion 204 million 143 million 2.967 billion 2.250 billion 1.570 billion 5.03
2001 (restated)[17] 3.926 billion 259 million 180 million 3.888 billion 2.559 billion 1.785 billion 5.72
2002 (restated)[18] 4.431 billion 349 million 244 million 5.274 billion 2.729 billion 1.904 billion 6.10
2003[19] 468 million 55.83% 7.161 billion 982 million 548 million 8.049 billion 4.319 billion 2.411 billion 5.15
2004[20] 468 million 10.329 billion 948 million 529 million 11.010 billion 5.016 billion 2.800 billion 5.98
2005 (restated)[21] 606 million 45.15% 10.799 billion 147 million 66 million 12.377 billion 4.880 billion 2.203 billion 3.64
2006 (restated)[22] 606 million 12.516 billion 424 million 191 million 12.373 billion 5.326 billion 2.364 billion 3.90
2007[23] 36.27% 14.961 billion 827 million 300 million 16.838 billion 7.406 billion 2.686 billion 4.44
2008[24] 19.108 billion 17.281 billion 5.704 billion 2.069 billion 3.42
2009[25] 13.350 billion 93 million 34 million 18.341 billion 5.797 billion 2.103 billion 3.47
2010[26] 18.836 billion 21 million 8 million 23.099 billion 5.817 billion 2.110 billion 3.47
2011[27] [28] 24.664 billion 27.127 billion 2.154 billion 22.874 billion 24.361 billion 4.679 billion 1.697 billion 2.80
2012[29] 20.822 billion 23.407 billion 3.444 billion 19.260 billion 20.488 billion 2.730 billion 990 million 1.64
2013 (restated)[30] 20.574 billion 24.574 billion 3.360 billion 1.356 billion 56.02% 19.171 billion 101 million 57 million 21.647 billion 4.347 billion 2.435 billion 1.80
2014[31] [32] 20.958 billion 21.418 billion 2.674 billion 1.356 billion 19.497 billion 18.570 billion 2.937 billion 1.645 billion 1.21
2015 12.030 billion 19.076 billion 1.463 billion 1.291 billion 53.37% 11.145 billion 16.560 billion 355 million 189 million 0.15
2016[33] 15.175 billion 54 million 19.117 billion 4.822 billion

Shareholders

Subsidiaries

External links

Notes and References

  1. Web site: 关于深化大型企业集团试点工作_范坤_新浪博客. blog.sina.com.cn. 2017-02-23.
  2. Chung Shan Investment & Development Co., Ltd. was incorporated on 4 August 1994 in Hong Kong, Chung Shan was Cantonese translation of Songshan
  3. Web site: 2015 Annual Report. 20 April 2016. 7 October 2016. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  4. Web site: 上市公告书. 8 May 1997. 23 February 2017. SGIS Songshan. 163.com. Chinese.
  5. Web site: 关于实际控制人股权变更的进展公告. Change in ownership of the parent company. 23 August 2008. 7 October 2016. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  6. Web site: 关于增加韶关钢铁注册资本金的公告. 7 November 2012. 23 February 2017. Guangdong Hengjian Investment Holding. chinabond.com.cn. Chinese.
  7. Web site: 宝钢集团广东韶关钢铁有限公司2015年度审计报告. 2015 Annual Report. 29 April 2016. 7 October 2016. Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd.. Shanghai Clearing House. Chinese.
  8. Web site: 关于控股股东减持股份的公告. 21 March 2015. 24 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  9. Web site: 关于公司控股股东完成增持计划的公告. 26 September 2015. 24 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  10. Web site: 关于公司控股股东增资的公告. Announcement on the recapitalization of the parent company. 30 September 2016. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  11. Web site: 广东韶钢松山股份有限公司关于向韶关钢铁出售资产事项暨关联交易的公告. 25 November 2016. 10 December 2016. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  12. Web site: 广东韶钢松山股份有限公司关于向宝特韶关出售资产事项暨关联交易的公告. 25 November 2016. 10 December 2016. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  13. Web site: 1997 Annual Report. 6 March 1998. 23 February 2017. SGIS Songshan. 163.com. Chinese.
  14. Web site: 1998 Annual Report. 8 April 1999. 23 February 2017. SGIS Songshan. 163.com. Chinese.
  15. Web site: 1999 Annual Report. 28 January 2000. 23 February 2017. SGIS Songshan. 163.com. Chinese.
  16. Web site: 2000 Annual Report. 7 April 2001. 23 February 2017. SGIS Songshan. 163.com. Chinese.
  17. Web site: 2001 Annual Report. 25 February 2002. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  18. Web site: 2002 Annual Report. 10 January 2003. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  19. Web site: 2003 Annual Report. 15 January 2004. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  20. Web site: 2004 Annual Report. 29 January 2005. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  21. Web site: 2005 Annual Report. 13 April 2006. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  22. Web site: 2006 Annual Report. 13 April 2007. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  23. Web site: 2007 Annual Report. 8 March 2008. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  24. Web site: 2008 Annual Report. 21 April 2009. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  25. Web site: 2009 Annual Report. 27 March 2010. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  26. Web site: 2010 Annual Report. 23 April 2011. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  27. 2011, 2012, 2013 Consolidated Annual Reports, Web site: 2014年度第一期中期票据发行披露材料. Pospectus of 2014 batch 1 mid term note. 20 October 2014. 23 February 2017. Baosteel Group Shaoguan Iron and Steel. Shanghai Clearing House. Chinese. PDFs.
  28. Web site: 2011 Annual Report. 28 March 2012. 23 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  29. Web site: 2012 Annual Report. 4 February 2013. 24 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  30. Web site: 2013 Annual Report. 17 April 2014. 24 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  31. Web site: 2014 Annual Report. 29 April 2015. 23 February 2017. Baosteel Group Shaoguan Iron and Steel. Shanghai Clearing House. Chinese. PDF.
  32. Web site: 2014 Annual Report. 27 April 2015. 24 February 2017. SGIS Songshan. Shenzhen Stock Exchange. Chinese.
  33. Web site: 2016 Annual Report. 13 April 2017. 1 May 2017. SGIS. Shanghai Clearing House. Chinese.