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Guangdong Shaogang Songshan Co., Ltd. (000717)
Songshan [000717] of Shaogang is a stock issued by Guangdong Shaogang Songshan Co., Ltd. [1]
Key points 1: Guangdong plate and steel industry plate.
Key point 2: the business scope is to manufacture, process and sell iron and steel metallurgical products, metal products, coke, coal chemical products, technology development, transfer, introduction and consulting services. To conduct the export business of the products and technologies produced by the enterprise and import of machinery and equipment, spare parts, raw and auxiliary materials and technologies required by the enterprise, except for the commodities and technologies that are operated or prohibited by the state; the import of scrap steel, copper, aluminum, paper and waste plastics (specifically according to the document No. 139 of the registration of Guangdong foreign trade and economic and Trade Development (2003). General cargo. The company covers the manufacturing, processing and sales of iron and steel metallurgical products, metal products, coke, coal chemical products, technology development, transfer, introduction and consulting services. The main products include wire rod, bar (thread reinforcement, round steel bar), middle plate (ship board, automobile girder plate) and other three series of steel products.
Key points 3: the main products of the main steel company include wire rod, bar and other three series of steel products. The medium and thick plates, high-strength threaded steel bars and wire rod for deep processing produced by the company are products that are not produced by large iron and steel enterprises, small and non-governmental enterprises. At present, the company has formed a production platform with annual capacity of more than 5million tons of steel. Shaogang group, the parent company, is one of the 500 largest industrial enterprises in China and 512 key enterprises in China. In 2010, 5.04 million tons of Communist steel increased by 19.13% over the previous year's 4.23 million tons, and 5.2 million tons of pig iron, an increase of 19.88% over the previous year's 41.9 million tons, and 4.82 million tons of steel (including: sheet metal 206 million tons, wire rod 1.14 million tons, bar 1620000 tons), an increase of 18.81% over the previous year of 4.06 million tons.
Key 4: establishment of Baosteel Special Steel The company plans to invest 1.372 billion yuan in 100% equity and self owned capital of the wholly-owned subsidiary of special steel Shaoguan company, Baosteel Special Steel Co., Ltd. is jointly established by both parties with a total of 1.428 billion yuan in structure and own funds, and the two parties jointly establish Baosteel Special Steel long-term Materials Co., Ltd. (temporarily named "special steel long-term materials"); the registered capital of the joint venture is 2.8 billion yuan, including Songshan, Shaogang The company holds 49% of the shares and Baosteel Special Steel has 51%. Songshan said that through this integration, Baosteel Special Steel long-term steel brand value sharing will be realized, the company's molten iron resources and cost advantages will be fully utilized to realize the whole process production capacity from molten iron to steel billet to commercial materials, realize the integration of production and marketing research, rapidly improve the production and sales of special steel long-term materials, optimize product structure, accelerate the development of special steel market and improve the operation efficiency of special steel.
Key point 5: in December 2012, the company intends to issue 75million shares to the controlling shareholder Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. at a price of not less than 1.95 yuan / share, with a total raised capital of RMB 150000 million. After deducting the issuance expenses, the net raised funds will be used to supplement the company's working capital. Through this directional issuance, on the one hand, it can help the company to operate steadily and improve the company's risk resistance in the environment of slowing economic growth; on the other hand, it will solve the capital bottleneck restricting the development of the company, which will help the company to carry out the subsequent technical reform and R & D projects smoothly, help the company cross the industry trough, improve the comprehensive competitiveness of the company, and accelerate the realization of the company's strategic development regulations Row.
Key point 6: release production capacity The company basically realizes the goal of product structure, resource structure optimization and upgrading, large-scale, automation and technological modernization of iron and steel system equipment, forming the product structure of medium and thick plate and hot rolled plate roll of 1.8 million tons / year, high-speed wire rod of 500000 tons / year, wire rod and small-sized material of 1.7 million tons / year. The overall capacity of production process is excavated and released while adjusting the product structure, so as to make the process flow large-scale, automatic and technological modernization Trend to match.
Key 7: Guangdong iron and Steel Group Co., Ltd., a branch of Guangzhou steel group, was officially established on June 28, 2008. Guangdong iron and Steel Group Co., Ltd. is registered in Guangzhou with a registered capital of 35.86 billion yuan, including: Baosteel Group contributed 28.688 billion yuan in cash, with 80% of the shares held, Guangdong SASAC, Guangzhou state owned assets commission Shaogang group and Guang Gang Group invested 7.172 billion yuan, with a total shareholding ratio of 20%.
Key 8: hedging the domestic steel futures hedging business, with investment capital of no more than RMB 20000000 or the number of steel hedging within 250000 tons. If the investment capital is more than RMB 20000000, it shall be submitted to the board of directors for deliberation. If the investment capital exceeds 10% of the net assets, it shall be reviewed by the shareholders' meeting.
Key 9: Guangdong state owned assets listed as a whole, Guangdong SASAC currently has 24 provincial owned enterprises, 4 holding enterprises and 2 escrow enterprises. 24 provincial owned enterprises cover many industries such as power, logistics, trade and so on. At the end of 2010, Guangdong Province owned enterprises had a total assets of 596.514 billion yuan, an increase of 13.1% year-on-year. In 2010, the total operating income was 315503 billion yuan, and the total profit was RMB 18.786 billion. Guangdong provincial enterprises strive to add 20 state-owned listed companies by the end of 2015, and more than 80% of the group holds at least one listed company, with the securitization rate exceeding 60% (the securitization rate is less than 20% by the mid-2011). In addition, Guangdong SASAC launched the construction of the provincial enterprise standardization board in june2011. Six enterprises, such as Guangye, Guanghong, Guangxin, Guangwu, Guangyan, Guangdong Communications Group, will take the lead in the construction of the board of directors and promote it in stages. The first major shareholder of the company is Guangdong Shaoguan Iron and Steel Group Co., Ltd. and the actual controller is Guangdong state-owned assets supervision and Management Committee.
Key 10: to change the major shareholder Baosteel Group in february2012, in accordance with the "Twelfth Five Year Plan" development plan for iron and steel industry (gxgjg [2011] No. 480), in order to realize the structural adjustment of China's steel industry, optimize the regional layout, alleviate the contradiction between steel supply and demand in Guangdong Province, and accelerate the elimination of backward steel production capacity in Guangdong Province, the SASAC of Guangdong Province intends to hold Shaogang group After 51% of the equity is transferred to Baosteel Group for free, Baosteel Group will indirectly hold 36.27% of the shares in Songshan through Shaogang group.
Key 11: additional commitment to 54148 million shares held by Shaogang Songshan group, which will continue to be locked for 2 years since August 18, 2008. After the expiration of the prohibition period (i.e. from August 18th, 2010), the price of Shaogang group listed on Shenzhen Stock Exchange shall not be less than 7 yuan per share (adjusted accordingly for ex right and interest).
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