Formerly | Shaoguan Iron and Steel Group | ||||||
---|---|---|---|---|---|---|---|
Company type | state-owned enterprise | ||||||
Industry | Iron and steel manufacturing | ||||||
Founded |
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Headquarters |
| ||||||
Key people | Li Shi-ping (Charmian & Party Committee Secretary) | ||||||
Revenue | CN¥15.175 billion (2016) | ||||||
(CN¥ (2016) 301 million) | |||||||
CN¥ 54 million (2016) | |||||||
Total assets | CN¥19.117 billion (2016) | ||||||
Total equity | CN¥ 4.822 billion (2016) | ||||||
Owner |
| ||||||
Parent |
| ||||||
Subsidiaries |
| ||||||
Footnotes / references in consolidated financial statement [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 Shaoguan Iron and Steel Songshan Company Limited by Shares | ||||||
|
Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. known as Shaoguan Iron and Steel or SGIS or Shaogang ( Chinese: 韶钢) 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 the government of Guangdong (49%).
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. ( SZSE: 000717) for 53.37% stake, which most of the group assets and revenue came from. [3]
The steel plant in Shaogang, Guangdong was established in 1966 (as Chinese: 韶关钢铁厂). In 1989 the plant was marketized as a company and was subsequently 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 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. [4]
In 1997, Shaoguan Iron and Steel Group was split into 5 main subsidiaries: [5] SGIS Songshan ( Chinese: 广东韶钢松山股份有限公司, incorporated on 29 April 1997), "Chung Shan Investment & Development" ( Chinese: 松山置业发展, "Chung Shan Development" in short), [nb 1] "Shaoguan Iron and Steel Co., Ltd.", [nb 2] and two other subsidiaries. [5] In the same year the shares of SGIS Songshan were floated at the Shenzhen Stock Exchange. [3] The initial public offering price was CN¥7.76 per share; [7] SGIS Group incorporated the listed company for CN¥1.50 only, by injecting a net assets of CN¥359 million for 240 million shares. [7]
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. 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. [8]
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. [8]
In September 2012, the remaining 49% were transferred to a wholly owned subsidiary of Guangdong SASAC, namely Guangdong Hengjian Investment Holding ( Chinese: 广东恒建投资控股有限公司). In November 2012 Shaoguan Iron and Steel Group was recapitalized for CN¥1.851 billion. [9]
In December 2012, the company was once more 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). [5]
In June 2013 SGIS Group subscribed CN¥1.5 billion capital increase of SGIS Songshan for CN¥2 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 CN¥5.58. [10] In September 2015 the group bought back 0.32% shares (approx. 7.7 million in number) for a weighed-average of CN¥5.33 each. [11]
On 28 September 2016, Shaoguan Iron and Steel Group was recapitalized again for CN¥3.3 billion. [12] It was planned to buy back some assets from the listed subsidiary for CN¥4.45 million. [13] SGIS Songshan also sold some assets to an associate company: Baosteel Special Steel Shaoguan for CN¥1.81 million (SGIS Songshan owned 49% of Baosteel Special Steel Shaoguan indirectly, the rest was owned by China Baowu Steel Group via Baosteel Special Steel). [14]
Shaoguan Iron and Steel Group | SGIS Songshan | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year | Revenue | Profit | Total assets | Equity | no. of Songshan shares | % | Revenue | Profit | Profit to group | Total assets | Equity | Equity to group | Net asset per shares |
1997 (restated) [15] [16] | 240 million | 75.0% | 2.251 billion | 170 million | 128 million | 1.373 billion | 1.135 billion | 852 million | 3.55 | ||||
1998 (restated) [17] [16] | 312 million | 2.671 billion | 176 million | 132 million | 2.490 billion | 1.907 billion | 1.430 billion | 4.56 | |||||
1999 (restated) [16] [18] [19] | 312 million | 3.048 billion | 164 million | 123 million | 2.412 billion | 1.988 billion | 1.491 billion | 4.78 | |||||
2000 (restated) [18] [20] | 69.77% | 3.346 billion | 204 million | 143 million | 2.967 billion | 2.250 billion | 1.570 billion | 5.03 | |||||
2001 (restated) [19] [20] [21] | 3.926 billion | 259 million | 180 million | 3.888 billion | 2.559 billion | 1.785 billion | 5.72 | ||||||
2002 (restated) [20] [21] | 4.431 billion | 349 million | 244 million | 5.274 billion | 2.729 billion | 1.904 billion | 6.10 | ||||||
2003 [21] | 468 million | 55.83% | 7.161 billion | 982 million | 548 million | 8.049 billion | 4.319 billion | 2.411 billion | 5.15 | ||||
2004 [22] | 468 million | 10.329 billion | 948 million | 529 million | 11.010 billion | 5.016 billion | 2.800 billion | 5.98 | |||||
2005 (restated) [23] [24] | 606 million | 45.15% | 10.799 billion | 147 million | 66 million | 12.377 billion | 4.880 billion | 2.203 billion | 3.64 | ||||
2006 (restated) [25] [24] | 606 million | 12.516 billion | 424 million | 191 million | 12.373 billion | 5.326 billion | 2.364 billion | 3.90 | |||||
2007 [24] | 36.27% | 14.961 billion | 827 million | 300 million | 16.838 billion | 7.406 billion | 2.686 billion | 4.44 | |||||
2008 [26] | 19.108 billion | (1.611 billion) | ( 584 million) | 17.281 billion | 5.704 billion | 2.069 billion | 3.42 | ||||||
2009 [27] | 13.350 billion | 93 million | 34 million | 18.341 billion | 5.797 billion | 2.103 billion | 3.47 | ||||||
2010 [28] | 18.836 billion | 21 million | 8 million | 23.099 billion | 5.817 billion | 2.110 billion | 3.47 | ||||||
2011 [29] [30] | 24.664 billion | ( 497 million) | 27.127 billion | 2.154 billion | 22.874 billion | (1.138 billion) | ( 413 million) | 24.361 billion | 4.679 billion | 1.697 billion | 2.80 | ||
2012 [29] [31] | 20.822 billion | ( 562 million) | 23.407 billion | 3.444 billion | 19.260 billion | (1.952 billion) | ( 708 million) | 20.488 billion | 2.730 billion | 990 million | 1.64 | ||
2013 (restated) [29] [32] [33] | 20.574 billion | ( 46 million) | 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 [32] [34] | 20.958 billion | ( 677 million) | 21.418 billion | 2.674 billion | 1.356 billion | 19.497 billion | (1.388 billion) | ( 778 million) | 18.570 billion | 2.937 billion | 1.645 billion | 1.21 | |
2015 [5] [3] | 12.030 billion | (1.387 billion) | 19.076 billion | 1.463 billion | 1.291 billion | 53.37% | 11.145 billion | (2.596 billion) | (1.385 billion) | 16.560 billion | 355 million | 189 million | 0.15 |
2016 [2] | 15.175 billion | 54 million | 19.117 billion | 4.822 billion |
Formerly | Shaoguan Iron and Steel Group | ||||||
---|---|---|---|---|---|---|---|
Company type | state-owned enterprise | ||||||
Industry | Iron and steel manufacturing | ||||||
Founded |
| ||||||
Headquarters |
| ||||||
Key people | Li Shi-ping (Charmian & Party Committee Secretary) | ||||||
Revenue | CN¥15.175 billion (2016) | ||||||
(CN¥ (2016) 301 million) | |||||||
CN¥ 54 million (2016) | |||||||
Total assets | CN¥19.117 billion (2016) | ||||||
Total equity | CN¥ 4.822 billion (2016) | ||||||
Owner |
| ||||||
Parent |
| ||||||
Subsidiaries |
| ||||||
Footnotes / references in consolidated financial statement [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 Shaoguan Iron and Steel Songshan Company Limited by Shares | ||||||
|
Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. known as Shaoguan Iron and Steel or SGIS or Shaogang ( Chinese: 韶钢) 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 the government of Guangdong (49%).
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. ( SZSE: 000717) for 53.37% stake, which most of the group assets and revenue came from. [3]
The steel plant in Shaogang, Guangdong was established in 1966 (as Chinese: 韶关钢铁厂). In 1989 the plant was marketized as a company and was subsequently 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 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. [4]
In 1997, Shaoguan Iron and Steel Group was split into 5 main subsidiaries: [5] SGIS Songshan ( Chinese: 广东韶钢松山股份有限公司, incorporated on 29 April 1997), "Chung Shan Investment & Development" ( Chinese: 松山置业发展, "Chung Shan Development" in short), [nb 1] "Shaoguan Iron and Steel Co., Ltd.", [nb 2] and two other subsidiaries. [5] In the same year the shares of SGIS Songshan were floated at the Shenzhen Stock Exchange. [3] The initial public offering price was CN¥7.76 per share; [7] SGIS Group incorporated the listed company for CN¥1.50 only, by injecting a net assets of CN¥359 million for 240 million shares. [7]
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. 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. [8]
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. [8]
In September 2012, the remaining 49% were transferred to a wholly owned subsidiary of Guangdong SASAC, namely Guangdong Hengjian Investment Holding ( Chinese: 广东恒建投资控股有限公司). In November 2012 Shaoguan Iron and Steel Group was recapitalized for CN¥1.851 billion. [9]
In December 2012, the company was once more 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). [5]
In June 2013 SGIS Group subscribed CN¥1.5 billion capital increase of SGIS Songshan for CN¥2 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 CN¥5.58. [10] In September 2015 the group bought back 0.32% shares (approx. 7.7 million in number) for a weighed-average of CN¥5.33 each. [11]
On 28 September 2016, Shaoguan Iron and Steel Group was recapitalized again for CN¥3.3 billion. [12] It was planned to buy back some assets from the listed subsidiary for CN¥4.45 million. [13] SGIS Songshan also sold some assets to an associate company: Baosteel Special Steel Shaoguan for CN¥1.81 million (SGIS Songshan owned 49% of Baosteel Special Steel Shaoguan indirectly, the rest was owned by China Baowu Steel Group via Baosteel Special Steel). [14]
Shaoguan Iron and Steel Group | SGIS Songshan | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year | Revenue | Profit | Total assets | Equity | no. of Songshan shares | % | Revenue | Profit | Profit to group | Total assets | Equity | Equity to group | Net asset per shares |
1997 (restated) [15] [16] | 240 million | 75.0% | 2.251 billion | 170 million | 128 million | 1.373 billion | 1.135 billion | 852 million | 3.55 | ||||
1998 (restated) [17] [16] | 312 million | 2.671 billion | 176 million | 132 million | 2.490 billion | 1.907 billion | 1.430 billion | 4.56 | |||||
1999 (restated) [16] [18] [19] | 312 million | 3.048 billion | 164 million | 123 million | 2.412 billion | 1.988 billion | 1.491 billion | 4.78 | |||||
2000 (restated) [18] [20] | 69.77% | 3.346 billion | 204 million | 143 million | 2.967 billion | 2.250 billion | 1.570 billion | 5.03 | |||||
2001 (restated) [19] [20] [21] | 3.926 billion | 259 million | 180 million | 3.888 billion | 2.559 billion | 1.785 billion | 5.72 | ||||||
2002 (restated) [20] [21] | 4.431 billion | 349 million | 244 million | 5.274 billion | 2.729 billion | 1.904 billion | 6.10 | ||||||
2003 [21] | 468 million | 55.83% | 7.161 billion | 982 million | 548 million | 8.049 billion | 4.319 billion | 2.411 billion | 5.15 | ||||
2004 [22] | 468 million | 10.329 billion | 948 million | 529 million | 11.010 billion | 5.016 billion | 2.800 billion | 5.98 | |||||
2005 (restated) [23] [24] | 606 million | 45.15% | 10.799 billion | 147 million | 66 million | 12.377 billion | 4.880 billion | 2.203 billion | 3.64 | ||||
2006 (restated) [25] [24] | 606 million | 12.516 billion | 424 million | 191 million | 12.373 billion | 5.326 billion | 2.364 billion | 3.90 | |||||
2007 [24] | 36.27% | 14.961 billion | 827 million | 300 million | 16.838 billion | 7.406 billion | 2.686 billion | 4.44 | |||||
2008 [26] | 19.108 billion | (1.611 billion) | ( 584 million) | 17.281 billion | 5.704 billion | 2.069 billion | 3.42 | ||||||
2009 [27] | 13.350 billion | 93 million | 34 million | 18.341 billion | 5.797 billion | 2.103 billion | 3.47 | ||||||
2010 [28] | 18.836 billion | 21 million | 8 million | 23.099 billion | 5.817 billion | 2.110 billion | 3.47 | ||||||
2011 [29] [30] | 24.664 billion | ( 497 million) | 27.127 billion | 2.154 billion | 22.874 billion | (1.138 billion) | ( 413 million) | 24.361 billion | 4.679 billion | 1.697 billion | 2.80 | ||
2012 [29] [31] | 20.822 billion | ( 562 million) | 23.407 billion | 3.444 billion | 19.260 billion | (1.952 billion) | ( 708 million) | 20.488 billion | 2.730 billion | 990 million | 1.64 | ||
2013 (restated) [29] [32] [33] | 20.574 billion | ( 46 million) | 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 [32] [34] | 20.958 billion | ( 677 million) | 21.418 billion | 2.674 billion | 1.356 billion | 19.497 billion | (1.388 billion) | ( 778 million) | 18.570 billion | 2.937 billion | 1.645 billion | 1.21 | |
2015 [5] [3] | 12.030 billion | (1.387 billion) | 19.076 billion | 1.463 billion | 1.291 billion | 53.37% | 11.145 billion | (2.596 billion) | (1.385 billion) | 16.560 billion | 355 million | 189 million | 0.15 |
2016 [2] | 15.175 billion | 54 million | 19.117 billion | 4.822 billion |