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Meishan Iron and Steel

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Meishan Iron and Steel
Company type
  • company limited by shares,
  • subsidiary
IndustryIron and steel manufacturing
Founded
  • 28 June 1990 (1990-06-28) (as company)[1]
  • 26 June 2001 (2001-06-26) (as limited company)[2]
FounderShanghai Meishan Group
Headquarters
Nanjing
,
China
RevenueDecrease CN¥26.0 billion (2014)
Increase CN¥193 million (2014)
Increase CN¥7.00 million (2014)
Total assetsDecrease CN¥32.9 billion (2014)
Total equitySteady CN¥11.1 billion (2014)
Owner
ParentBaoshan 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 meaningShanghai Meishan Steel and Iron Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu PinyinShànghǎi méishān gāngtiě gǔfèn yǒuxiàn gōngsī

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 is also a listed company.

History

Meishan Iron & Steel

The steel plant at Meishan Iron Mine, in Xishan Qiao Subdistrict [zh], Nanjing was founded in 1969[3] by the 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).[4] 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.[5] Meishan Iron and Steel was listed as one of the 512 most important state-owned enterprises in 1997, in the iron and steel industry segment that consist of 47 companies.[6]

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 floated Meishan Iron & Steel at Shanghai Stock Exchange[7][8] by selling 74.01% shares of Meishan Iron & Steel to its listed subsidiary Baoshan Iron and Steel, for a valuation of CN¥5.469 billion (CN¥7.389 billion total value times 74.01% shares). The deal was completed in 2005.[9]

In 2008, Meishan Iron & Steel signed a contract with Praxair to build two more new air separation plants in Meishan.[10]

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.[4] Meishan Group merged with Baosteel Group in 1998.[5][7] The assets of Meishan Group were 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 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 net assets of just CN¥1.366 billion,[11] much smaller in size than its 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[13] ¥2.1 billion ¥170.7 million ¥4.2 billion ¥1.7 billion
1995
1996
as Meishan Iron and Steel (in a consolidated basis)
2003[8] ¥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[14] Increase ¥14.3 billion Decrease ¥0.3 billion Increase ¥20.3 billion Increase 11.5 billion

References

  1. ^ Government database (in Chinese)
  2. ^ a b c "上海梅山钢铁股份有限公司2014年度报告". Shanghai Meishan Iron and Steel Co., Ltd. (in Chinese). Shanghai Clearing House. 30 April 2015. Retrieved 6 October 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  3. ^ "Shanghai Meishan Iron & Steel Co., Ltd.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-03-08.
  4. ^ a b [1]
  5. ^ a b "Official Journal 1998 N°30" (PDF) (in Chinese). State Council of China. 22 December 1998. Retrieved 12 October 2016.
  6. ^ http://blog.sina.com.cn/s/blog_544a7adf0100mwmj.html
  7. ^ a b "宝钢集团上海梅山有限公司(简称"梅山公司")" (in Chinese). Baosteel Group. Retrieved 6 October 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  8. ^ a b "关于资产收购及关联交易的公告" (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 12 August 2004. Retrieved 6 October 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  9. ^ "2005 Annual Report" (PDF). Boshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 29 March 2006. Retrieved 12 October 2016.
  10. ^ "Praxair China Expands Supply Agreement with Meishan Iron & Steel". Praxair. 1 April 2008. Retrieved 6 October 2016.
  11. ^ "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". Baosteel Group Shanghai Meishan Co., Ltd. (in Chinese). Shanghai Clearing House. 29 April 2016. Retrieved 6 October 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  12. ^ "2015 Annual Report" (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 31 March 2016. Retrieved 3 October 2016.
  13. ^ http://money.finance.sina.com.cn/bond/notice/sh129703.html
  14. ^ "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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