Meishan Iron and Steel
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 Baowu (formerly known as Baosteel Group) and a first-tier subsidiary of listed company Baoshan Iron and Steel Co., Ltd. (Baosteel). The company was based in Nanjing.
Type |
|
---|---|
Industry | Iron and steel manufacturing |
Founded | |
Founder | Shanghai Meishan Group |
Headquarters | Nanjing , China |
Revenue | CN¥26.0 billion (2014) |
CN¥193 million (2014) | |
CN¥7.00 million (2014) | |
Total assets | CN¥32.9 billion (2014) |
Total equity | 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 Company Limited by Shares | ||||||
|
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 Yuhuatai District, Nanjing was founded in 1969[3][4] 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).[5] 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.[6] 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.[7]
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[8][9] 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.[10]
In 2008, Meishan Iron & Steel signed a contract with Praxair to build two more new air separation plants in Meishan.[11]
In 2018, it was announced that the steel plant of the company would be relocated to Yancheng, Jiangsu Province in the 2020s.[12]
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.[5] Meishan Group merged with Baosteel Group in 1998.[6][8] 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,[13] much smaller in size than its sister company Meishan Iron and Steel.
Shareholders
- As of 31 December 2014[2]
- Baoshan Iron and Steel (77.04%)[14]
- a wholly owned subsidiary of China Development Bank (9.14%)
- China Orient Asset Management (7.02%)
- a subsidiary of the Government of Nanjing (6.80%)
Data
Year | Turnover | Result | Total Assets | Net Assets |
---|---|---|---|---|
as Shanghai Meishan Group | ||||
1994[15] | ¥2.1 billion | ¥170.7 million | ¥4.2 billion | ¥1.7 billion |
1995 | ||||
1996 | ||||
as Meishan Iron and Steel (in a consolidated basis) | ||||
2003[9] | ¥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[16] | ¥14.3 billion | ¥0.3 billion | ¥20.3 billion | 11.5 billion |
References
- Government database (in Chinese)
- 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.
- "Shanghai Meishan Iron & Steel Co., Ltd.: Private Company Information - Bloomberg". bloomberg.com. Retrieved 2017-03-08.
- 李园园; 王林盛 (25 April 2019). 在坚守与变革中砥砺前行 上海梅山钢铁股份有公司迎来建厂50周年. XinhuaNet (in Chinese (China)). Archived from the original on May 18, 2021. Retrieved 1 December 2019.
- ":::: 上海市地方志办公室 ::::". www.shtong.gov.cn. Archived from the original on 2004-09-02.
- "Official Journal 1998 N°30" (PDF) (in Chinese). State Council of China. 22 December 1998. Retrieved 12 October 2016.
- "关于深化大型企业集团试点工作_范坤_新浪博客".
- 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.
- 关于资产收购及关联交易的公告 [Announcement of Acquisition 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.
- "2005 Annual Report" (PDF). Boshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 29 March 2006. Retrieved 12 October 2016.
- "Praxair China Expands Supply Agreement with Meishan Iron & Steel". Praxair. 1 April 2008. Retrieved 6 October 2016.
- 省政府与宝武集团签署《战略合作协议》 梅钢将从南京迁往盐城 (Press release) (in Chinese (China)). 南京投资与规划处. 2018-12-05. Retrieved 1 December 2019.
- 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] (in Chinese). Baosteel Group Shanghai Meishan Co., Ltd. 29 April 2016. Retrieved 6 October 2016 – via Shanghai Clearing House.
- "2015 Annual Report" (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 31 March 2016. Retrieved 3 October 2016.
- "96梅山债(sh129703)债券公告_新浪财经_新浪网".
- "2008 Annual Report". Meishan Iron and Steel (in Chinese). Chinabond.com.cn. 24 April 2012 [Originally published in 2009]. Retrieved 7 October 2016.
External links
- Official website of Baoshan Iron and Steel Co., Ltd. (in Chinese)
- Official website of Baosteel Group Shanghai Meishan Co., Ltd. (in Chinese)