Shaoguan Iron and Steel

Not to be confused with Shougang Corporation.
Shaoguan Iron and Steel
Formerly called
 Shaoguan Iron and Steel Group
Industry Iron and steel manufacturing
Founded
  • 1966 (as steel plant)
  • 11 September 1989 (1989-09-11) (as company)[1]
  • December 1996 (as limited company)
Headquarters
  • Guangzhou, China (legal)
  • Shaoguan, China (general office)
Revenue Decrease CN¥12.0 billion (2015)
Decrease (CN¥2.6 billion) (2015)
Profit Decrease (CN¥1.4 billion) (2015)
Total assets Decrease CN¥19.1 billion (2015)
Total equity Decrease CN¥1.5 billion (2015)
Owner
Parent Baosteel Group
Subsidiaries
  • SGIS Songshan (53.37%)
  • Shaoguan Iron and Steel (70%)
Footnotes / references
in a consolidated basis[2]
Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd.
Simplified Chinese 宝钢集团广东韶关钢铁有限公司
Traditional Chinese 寶鋼集團廣東韶關鋼鐵有限公司
SGIS Songshan Co., Ltd.
Simplified Chinese 广东韶钢松山股份有限公司
Traditional Chinese 廣東韶鋼松山股份有限公司
Literal meaning Guangdong SGIS Songshan Joint-Stock Limited Company

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

The company is a joint venture of central government-owned iron and steel conglomerate Baosteel Group (51%) and the government of Guangdong (49%). The company was registered in Guangzhou, Guangdong, but general office was located in Maba, Qujiang District, Shaoguan, Guangdong. SGIS Group is the parent company of SGIS Songshan Co., Ltd. (SZSE: 000717) for 53.37% stake, which most of the group assets and revenue came from.[3]

History

The steel plant in Shaogang, Guangdong was established in 1966 (as Chinese: 韶关钢铁厂). In 1989 the plant was marketizated as a company; it was renamed into Guangdong Shaoguan Iron and Steel Group Corporation (Chinese: 广东省韶关钢铁集团公司) in December 1993. In December 1996 it became Guangdong Shaoguan Iron and Steel Group Co., Ltd. (Chinese: 广东省韶关钢铁集团有限公司) Shaoguan Iron and Steel was one of the 512 important state-owned enterprises in 1997. (1 of 47 iron and steel insudtry)[4]

In 1997 Shaoguan Iron and Steel Group was split into 5 main subsidiaries, such as SGIS Songshan (Chinese: 广东韶钢松山股份有限公司) and a subsidiary of the same name (Shaoguan Iron and Steel Co., Ltd.; in fact incorporated in 1990). In the same year the shares of SGIS Songshan was float in Shenzhen Stock Exchange.[3]

In 2008 an agreement was signed with Baosteel Group that, 100% shares of Shaoguan Iron and Steel Group and Guangzhou Iron and Steel Enterprise Group would be injected into "Guangdong Iron and Steel Group" as share capital, making State-owned Assets Supervision and Administration Commissions (SASACs) of the People's Government of Guangdong Province and Guangzhou City respectively, would owned a combined 20% stake in Guangdong Iron and Steel Group. However, the deal was collapsed.[5]

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

In September 2012, the remaining 49% stake was transferred to a wholly owned subsidiary of Guangdong SASAC: Guangdong Heng Jian Investment Holding (Chinese: 广东恒建投资控股有限公司).

In December 2012 it was renamed into Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. (Chinese: 宝钢集团广东韶关钢铁有限公司).[2]

On 28 September 2016 Shaoguan Iron and Steel Group recapitalized CNY3.3 billion.[6]

Shareholders

References

  1. ↑ Government database (in Chinese)
  2. 1 2 "宝钢集团广东韶关钢铁有限公司2015年度审计报告" [2015 Annual Report]. Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. (in Chinese). archive of Shanghai Clearing House. 29 April 2016. Retrieved 7 October 2016.
  3. 1 2 "2015 Annual Report" (PDF). SGIS Songshan (in Chinese). archive of Shenzhen Stock Exchange. 20 April 2016. Retrieved 7 October 2016.
  4. ↑ http://blog.sina.com.cn/s/blog_544a7adf0100mwmj.html
  5. 1 2 "关于实际控制人股权变更的进展公告" [Change in ownership of the parent company] (PDF). SGIS Songshan (in Chinese). archive of Shenzhen Stock Exchange. 23 August 2008. Retrieved 7 October 2016.
  6. ↑ "关于公司控股股东增资的公告" [Announcement on the recapitalization of the parent company] (PDF). SGIS Songshan (in Chinese). archive of Shenzhen Stock Exchange. 30 September 2016.
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