The hottest Shagang new model reorganizes three pr

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Shagang restructured three private enterprises in Henan with a target annual output value of 26.5 billion

after Henan Anyang Iron and Steel Group Co., Ltd. announced the reorganization of three local private iron and steel enterprises last week, Jiangsu Shagang Group also quickly integrated three private enterprises in Henan Province

On May 30, Shagang Group announced the integration of three enterprises in Henan. Jia Xiangxi, vice chairman of Shagang Group, told the author yesterday that the integration is based on the group's subsidiary Anyang Yongxing iron and Steel Company (hereinafter referred to as "Yongxing iron and steel"), together with Anyang Huacheng special steel company, Henan HSBC pipe company and Henan Liyuan Coal coke group to seal and cover the "one belt and one road" national cumulative infrastructure investment will reach 3.26 trillion US dollars for three companies, A new group, Henan Shagang United iron and Steel Group Co., Ltd., was jointly established, and four companies held equity in the new group

Anyang Huacheng Special Steel Co., Ltd. is a private steel enterprise integrating iron making, steel making and rolling. Henan Huifeng Pipe Industry Co., Ltd. is a joint-stock private company approved by the state. Henan Liyuan Coal coke Group Co., Ltd. is the backbone enterprise of the three major coal chemical industrial parks in Henan Province. It can adopt two pump independent oil supply with two flow specifications. It is also a joint-stock private company

Jia Xiangyu said that since many things have not been discussed, it is not possible to disclose the specific shareholding ratio at present. At the signing ceremony of the new group, Gongsheng, executive director and President of the board of directors of Shagang Group, said that after the establishment of Henan Shagang United Steel Group Co., Ltd., it will have an annual production capacity of 4million tons of iron, 4million tons of steel, 3million tons of materials and 2.7 million tons of metallurgical coke. It is expected that by the end of 2011, Henan Shagang United Steel Group Co., Ltd. will achieve an output value of 26.5 billion yuan,

this is also the second time Shagang Group has restructured iron and steel enterprises in Henan Province. On the eve of the financial crisis, in 2007, shagang group spent more than 2 billion yuan to acquire 80% of the equity of Yongxing iron and Steel Co., Ltd., which regularly inspected and revised the experimental machine. Yongxing steel is the second steel enterprise acquired by shagang group

Since 2006, Shagang Group has successively merged and reorganized Jiangsu Huaigang Special Steel Co., Ltd. (hereinafter referred to as "Huaigang"), Yongxing steel, Jiangsu Yonggang group, Jiangsu Xinrui Special Steel Co., Ltd. and other steel enterprises

after Yongxing steel was acquired by Shagang Group, it just caught up with the financial crisis, and its business performance was not ideal. In fact, since 2008, China's steel industry as a whole has fallen into business difficulties. This makes Yongxing steel after the merger and acquisition an obstacle to the listing of Shagang Group

Shagang Group acquired 80% of the equity of Yongxing iron and steel through the acquisition of Huaigang in the form of loans. Yongxing iron and steel invested in the new project and borrowed a total of about 2.8 billion yuan from Huaigang. However, the progress of Yongxing iron and Steel's new project was not smooth, with continuous losses, and the loan could not be repaid

in order to ensure the smooth progress of Huaigang's backdoor listing, on December 29, 2009, Shagang Group purchased 80% of the shares of Yongxing steel held by Huaigang, for which Shagang Group paid 129million yuan to Huaigang twice. On April 20 last year, with the help of Shagang Group, Yongxing steel repaid all its loans to Huaigang

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