Meishan Iron and Steel

Meishan Iron and Steel
  • company limited by shares,
  • subsidiary
Industry Iron and steel manufacturing
Founded
  • 28 June 1990 (1990-06-28) (as company)[1]
  • 26 June 2001 (2001-06-26) (as limited company)[2]
Founder Shanghai Meishan Group
Headquarters Nanjing, China
Revenue Decrease CN¥26.0 billion (2014)
Increase CN¥193 million (2014)
Profit Increase CN¥7.00 million (2014)
Total assets Decrease CN¥32.9 billion (2014)
Total equity Steady CN¥11.1 billion (2014)
Owner
Parent Baoshan Iron and Steel
Footnotes / references
in a consolidated basis[2]
Shanghai Meishan Iron and Steel Co., Ltd.
Simplified Chinese 上海梅山钢铁股份有限公司
Traditional Chinese 上海梅山鋼鐵股份有限公司
Literal meaning Shanghai Meishan Steel and Iron Joint-Stock Limited Company

Shanghai Meishan Iron and Steel Co., Ltd., known as Meishan Iron and Steel, or Meisteel or Meigang (Chinese: 梅钢) is a second-tier subsidiary of Baosteel Group and a first-tier subsidiary of listed company Baoshan Iron and Steel Co., Ltd.. The company was based in Nanjing.

In 2004, Baosteel Group decided to inject Shanghai Meishan Iron and Steel Co., Ltd. to fellow subsidiary Baoshan Iron and Steel Co., Ltd., which also a listed company.

History

Meishan Iron & Steel

The steel plant in Meishan Iron Mine, Xishan Qiao Subdistrict, Nanjing was found in 1969 by Shanghai Government. The mine became a quasi-exclave of Shanghai. In 1984 the steel plant and related industries became Shanghai Meishan Metallurgical Corporation (Chinese: 上海梅山冶金公司).[3] The company was registered in the Government of Nanjing in 1990. In 1994 a new holding company was formed for Meishan Group, which the mine was spin-off from Meishan Metallurgical Corporation in 1995, while the iron and steel company became Shanghai Meishan Iron and Steel Co., Ltd. (Chinese: 梅山钢铁有限公司). The company became a subsidiary of Baosteel Group in 1998.[4] Meishan Iron and Steel was one of the 512 important state-owned enterprises in 1997. (1 of 47 iron and steel insudtry)[5]

The company was re-incorporated in 2001 (Chinese: 上海梅山钢铁股份有限公司) by debt-to-equity swap. In 2004 Baosteel Group decided to float Meishan Iron & Steel in Shanghai Stock Exchange[6][7] by selling 74.01% stake of Meishan Iron & Steel to its listed subsidiary Baoshan Iron and Steel, for a valuation of CN¥5.469 billion (CN¥7.389 billion times 74.01%). The deal was completed in 2005.[8]

In 2008, Meishan Iron & Steel signed a contract with Praxair to build 2 more new air separation plants in Meishan.[9]

former Shanghai Meishan Group

"Shanghai Meishan (Group) Co., Ltd." (Chinese: 上海梅山(集团)有限公司) was the holding company of Meishan Iron & Steel and other subsidiaries. It was founded in 1994.[3] Meishan Group merged with Baosteel Group in 1998.[4][6] The assets of Meishan Group was absorbed by "Baosteel Group Shanghai Meishan Co., Ltd." (Chinese: 宝钢集团上海梅山有限公司) some time later. After the partial demerger in 2004, Baosteel Group Shanghai Meishan Ltd. still owned Shanghai Meishan Mining (Chinese: 上海梅山矿业有限公司, incorporated in 1995), the mining company in the unlisted portion of the conglomerate; the mining company became part of "Nanjing Meishan Metallurgical Development" (Chinese: 南京梅山冶金发展有限公司), a subsidiary of "Baosteel Group Shanghai Meishan Co., Ltd." in 2010. As at 31 December 2015, "Baosteel Group Shanghai Meishan Co., Ltd." had a net assets of just CN¥1.366 billion,[10] much smaller in size than now sister company Meishan Iron and Steel.

Shareholders

As of 31 December 2014[2]

Data

Year Turnover Result Total Assets Net Assets
as Shanghai Meishan Group
1994[12] ¥2.1 billion ¥170.7 million ¥4.2 billion ¥1.7 billion
1995
1996
as Meishan Iron and Steel (in a consolidated basis)
2003[7] ¥6.0 billion ¥585.0 million ¥11.6 billion ¥6.1 billion
2004
2005
2006
2007 ¥13.0 billion ¥1.1 billion ¥13.9 billion ¥11.2 billion
2008[13] Increase ¥14.3 billion Decrease ¥0.3 billion Increase ¥20.3 billion Increase 11.5 billion

References

  1. ↑ Government database (in Chinese)
  2. 1 2 3 "上海梅山钢铁股份有限公司2014年度报告" [2014 Annual Report]. Shanghai Meishan Iron and Steel Co., Ltd. (in Chinese). Shanghai Clearing House. 30 April 2015. Retrieved 6 October 2016.
  3. 1 2
  4. 1 2 "Official Journal 1998 N°30" (PDF) (in Chinese). State Council of China. 22 December 1998. Retrieved 12 October 2016.
  5. ↑ http://blog.sina.com.cn/s/blog_544a7adf0100mwmj.html
  6. 1 2 "宝钢集团上海梅山有限公司(简称"梅山公司")" [Baosteel Group Shanghai Meishan Co., Ltd. (Meishan Co. in short)] (in Chinese). Baosteel Group. Retrieved 6 October 2016.
  7. 1 2 "关于资产收购及关联交易的公告" [Announcment of Acquires of Assets and Related-Parties Deal] (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 12 August 2004. Retrieved 6 October 2016.
  8. ↑ "2005 Annual Report" (PDF). Boshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 29 March 2006. Retrieved 12 October 2016.
  9. ↑ "Praxair China Expands Supply Agreement with Meishan Iron & Steel". Praxair. 1 April 2008. Retrieved 6 October 2016.
  10. ↑ "宝钢集团上海梅山有限公司关于披露2015年年度报告的公告" [2015 Annual Report]. Baosteel Group Shanghai Meishan Co., Ltd. (in Chinese). Shanghai Clearing House. 29 April 2016. Retrieved 6 October 2016.
  11. ↑ "2015 Annual Report" (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 31 March 2016. Retrieved 3 October 2016.
  12. ↑ http://money.finance.sina.com.cn/bond/notice/sh129703.html
  13. ↑ "2008 Annual Report". Meishan Iron and Steel (in Chinese). Chinabond.com.cn. 24 April 2012 [Originally published in 2009]. Retrieved 7 October 2016.
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