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 at 31 December 2013, Huaigang accounted for 99.9% revenue and 97% assets of Shagang Company.[3] However, as at 31 December 2015, Shagang Group owned just 19.88% stake in Shagang Company; in turn Shagang Company owned 63.79% stake of Huaigang.[4] Shagang Group sold 55.12% stake of Shagang Company in 2015, for about CN¥4.6 billion (or CN¥5.29 per share).[5]

Huaigang Special Steel
FormerlyHuaigang Group Co., Ltd.
Typesubsidiary
IndustryManufacturing
Founded
  • 1970 (as steel plant)[1]
  • 1986 (as company)
  • 11 December 1996 (1996-12-11) (as limited company)
FounderHuai'an Municipal Government
Headquarters188 Xi'an South Road,
Huai'an
,
China
ProductsSteel and coke
RevenueDecrease CN¥10.781 billion (2013)
Increase CN¥35 million (2013)
Increase CN¥27 million (2013)
Total assetsIncrease CN¥8.131 billion (2013)
Total equityDecrease CN¥3.015 billion (2013)
Owner
  • Shagang Company (63.79%)
  • Jiangyin Wande (15.45%)
  • others (20.76%)
Footnotes / references
in a consolidated basis; equity and profit excluded minority interests; in Chinese Accounting Standards[2]
Jiangsu Shagang Group Huaigang Special Steel Co., Ltd.
Simplified Chinese江苏沙钢集团淮钢特钢股份有限公司
Traditional Chinese江蘇沙鋼集團淮鋼特鋼股份有限公司
Huaigang Special Steel
Simplified Chinese淮钢特钢
Traditional Chinese淮鋼特鋼
Huaigang
Simplified Chinese淮钢
Traditional Chinese淮鋼

As of 4 July 2017, Shagang Company is a constituent of SZSE 200 Index (mid cap index).[6]

History

Huaigang Group Co., Ltd. (Chinese: 江苏淮钢集团有限公司) 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.[7] In 2000, Nanjing Iron and Steel Group acquired the controlling stake (93.49%).[7] It was recapitalized in 2003, making the stake held by Nanjing Iron and Steel Group was diluted to 26.15%.[7] Moreover, private investors were introduced.[7] In 2005, the 26.15% stake was returned to Huai'an Municipal People's Government from Nanjing Iron and Steel Group.[7][8] In June 2006, privately held company Shagang Group acquired 64.40% stake of Huaigang from other private investors.[7] The stake was injected to a publicly traded company Gaoxin Zhangtong as a reverse IPO in 2010 (now known as Shagang Company).[7] In December 2006 Huai'an Municipal Government also sold their stake to Jiangyin Wande (Chinese: 江阴万德).[7] The shareholder of Jiangyin Wande, Li Xinren (Chinese: 李新仁), also owned the shares of Shagang Group.[7][9]

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 (Chinese: 江苏天淮钢管) with Tianjin Pipe Corporation. Huaigang owned 40% stake. In 2015 Huaigang sold the stake to Zhangjiagang Xiangbo (Chinese: 张家港翔博贸易) for CN¥250 million.[10]

Financial data
in a consolidated financial statements (in CN¥)
Shagang CompanyHuaigang Special Steel
Year Revenue Profit Assets Equity shares % Revenue Profit Profit to parent Assets Equity Equity to parent
2007[11]8.994 billion563 million13.990 billion1.774 billion
2008[12]Increase 15.347 billionDecrease 104 millionIncrease 16.398 billionIncrease 2.489 billion
2009[12]Decrease 12.619 billionIncrease 110 millionDecrease 15.060 billionIncrease 2.596 billion
2010[12]Decrease 12.537 billionIncrease 358 millionDecrease 11.555 billionIncrease 1.994 billion63.79%Decrease 12.537 billionIncrease 561 millionIncrease 358 millionDecrease 10.724 billionIncrease 3.210 billionIncrease 2.048 billion
2011[12]Increase 15.001 billionDecrease 278 millionDecrease 10.144 billionIncrease 2.290 billionIncrease 14.934 billionDecrease 459 millionDecrease 293 millionDecrease 10.100 billionIncrease 3.270 billionIncrease 2.086 billion
2012[2]Decrease 12.148 billionDecrease 23 millionDecrease 8.153 billionIncrease 2.319 billionDecrease 12.143 billionDecrease 22 millionDecrease 14 millionDecrease 8.058 billionDecrease 3.194 billionDecrease 2.037 billion
2013[2]Decrease 10.787 billionIncrease 28 millionIncrease 8.382 billionIncrease 2.351 billionDecrease 10.781 billionIncrease 27 millionIncrease 17 millionIncrease 8.131 billionDecrease 3.015 billionDecrease 1.923 billion
2014Decrease 10.308 billionIncrease 35 millionDecrease 7.137 billionIncrease 2.389 billion
2015Decrease 7.357 billionDecrease (81 million)Decrease 6.550 billionDecrease 2.307 billion

References
  1. "公司简介" [About us] (in Chinese). Huaigang Special Steel. Retrieved 25 November 2016.
  2. "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" [Prospectus of 2014 (batch 1) short-term financing of Jiangsu Shagang Group Huaigang Special Steel Co., Ltd.]. Huaigang Special Steel (in Chinese). Shanghai Clearing House. 26 August 2014. Retrieved 25 November 2016.
  3. "2013 Annual Report" (PDF). Shagang Company (in Chinese). Shenzhen Stock Exchange. 26 April 2014. Retrieved 25 November 2016.
  4. "2015 Annual Report" (PDF). Shagang Company (in Chinese). Shenzhen Stock Exchange. 31 March 2016. Retrieved 25 November 2016.
  5. "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" (PDF). Huaying Securities (in Chinese). Shenzhen Stock Exchange. 25 February 2015 [prepared on 16 February 2015]. Retrieved 26 November 2016.
  6. 指数样本 [Constituents] (Microsoft Excel) (in Chinese (China)). Shenzhen Securities Information. 4 July 2017. Archived from the original on 1 November 2017. Retrieved 1 November 2017.
  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】" (PDF). Gaoxin Zhangtong (in Chinese). Shenzhen Stock Exchange. 28 December 2010. Retrieved 26 November 2016.
  8. "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" (in Chinese). Jiangsu Provincial People's Government. 28 May 2005. Archived from the original on 20 November 2016. Retrieved 20 November 2016.
  9. "关于继续对控股子公司提供财务资助的公告" (PDF). Shagang Company (in Chinese). Shenzhen Stock Exchange. 26 April 2014. Retrieved 26 November 2016.
  10. "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" (PDF). Shagang Company (in Chinese). Shenzhen Stock Exchange. 29 August 2015. Retrieved 25 November 2016.
  11. "2008 Auditor's Report" (PDF). Huaigang Special Steel & Talent Certified Public Accountants (in Chinese). Shenzhen Stock Exchange. 21 May 2009 [Prepared on 28 April 2009]. Retrieved 26 November 2016.
  12. "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" [Prospectus of 2013 (batch 1) short-term financing of Jiangsu Shagang Group Huaigang Special Steel Co., Ltd.]. Huaigang Special Steel (in Chinese). Shanghai Clearing House. 26 September 2013. Retrieved 26 November 2016.
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