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Huaigang Special Steel

Jiangsu Shagang Group Huaigang Special Steel Co., Ltd. (known as Huaigang or Huaisteel) is a Chinese steel manufacturer based in Huai'an, Jiangsu Province. It was a subsidiary of privately held company Shagang Group via its publicly traded subsidiary Shagang Company (szse: 002075) for 63.79% stake, from 2010 to 2015. As of 31 December 2013, Huaigang accounted for 99.9% revenue and 97% assets of Shagang Company.[2] However, as of 31 December 2015, Shagang Group owned just 19.88% stake in Shagang Company; in turn Shagang Company owned 63.79% stake of Huaigang.[3] Shagang Group sold 55.12% stake of Shagang Company in 2015, for about CN¥4.6 billion (or CN¥5.29 per share).[4]

As of 4 July 2017, Shagang Company is a constituent of SZSE 200 Index (mid cap index).[5]

History

Huaigang Group Co., Ltd. was incorporated on 11 December 1996 as a subsidiary of the Economic Commission of Huai'an (the city was known as Huaiyin at that time) for 91.97% stake. In 2000, Nanjing Iron and Steel Group acquired the controlling stake (93.49%). It was recapitalized in 2003, making the stake held by Nanjing Iron and Steel Group was diluted to 26.15%. Moreover, private investors were introduced. In 2005, the 26.15% stake was returned to Huai'an Municipal People's Government from Nanjing Iron and Steel Group.[6] In June 2006, privately held company Shagang Group acquired 64.40% stake of Huaigang from other private investors. The stake was injected to a publicly traded company Gaoxin Zhangtong as a reverse IPO in 2010 (now known as Shagang Company). In December 2006 Huai'an Municipal Government also sold their stake to Jiangyin Wande .[7] The shareholder of Jiangyin Wande, Li Xinren, also owned the shares of Shagang Group.[7][8]

In 2011 the company was re-incorporated as a company limited by shares, issuing 1.431 billion shares with par value CN¥1 each.

Joint Venture

Huaigang formed a joint venture with Tianjin Pipe Corporation. Huaigang owned 40% stake. In 2015 Huaigang sold the stake to Zhangjiagang Xiangbo for CN¥250 million.[9]

Financial data

External links

References

  1. 公司简介 Huaigang Special Steel, retrieved 25 November 2016^
  2. 2013 Annual Report Shagang Company, Shenzhen Stock Exchange, 26 April 2014, retrieved 25 November 2016^
  3. 2015 Annual Report Shagang Company, Shenzhen Stock Exchange, 31 March 2016, retrieved 25 November 2016^
  4. 华英证券有限责任公司关于李非文、刘振光、黄李厚、李强、王继满、朱峥、刘本忠、燕卫民、金洁不存在一致行动人关系之财务顾问核查意见 Huaying Securities, Shenzhen Stock Exchange, 25 February 2015, retrieved 26 November 2016^
  5. http://www.cnindex.com.cn/docs/yb_399009.xls Shenzhen Securities Information, 4 July 2017, retrieved 1 November 2017^
  6. 省政府关于将南京市持有的江苏淮阴钢铁集团有限公司国有股权划转淮安市持有的通知 Jiangsu Provincial People's Government, 28 May 2005, retrieved 20 November 2016^
  7. 高新张铜股份有限公司发行股份购买资产暨重大资产重组报告书【修订稿】 Gaoxin Zhangtong, Shenzhen Stock Exchange, 28 December 2010, retrieved 26 November 2016^
  8. 关于继续对控股子公司提供财务资助的公告 Shagang Company, Shenzhen Stock Exchange, 26 April 2014, retrieved 26 November 2016^
  9. 江苏沙钢股份有限公司关于控股子公司转让参股公司股权的公告 Shagang Company, Shenzhen Stock Exchange, 29 August 2015, retrieved 25 November 2016^
  10. 2008 Auditor's Report Huaigang Special Steel & Talent Certified Public Accountants, Shenzhen Stock Exchange, 21 May 2009, retrieved 26 November 2016^
  11. 江苏沙钢集团淮钢特钢股份有限公司2013年度第一期短期融资券发行披露材料 Huaigang Special Steel, Shanghai Clearing House, 26 September 2013, retrieved 26 November 2016^
  12. 江苏沙钢集团淮钢特钢股份有限公司2014年度第一期短期融资券发行披露材料 Huaigang Special Steel, Shanghai Clearing House, 26 August 2014, retrieved 25 November 2016^