![]() Huaigang logo, bilingual name on the right | |
Formerly | Huaigang Group Co., Ltd. |
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Company type | subsidiary |
Industry | Manufacturing |
Founded |
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Founder | Huai'an Municipal Government |
Headquarters | 188 Xi'an South Road, Huai'an , China |
Products | Steel and coke |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Owner |
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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. | |||
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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 | ||
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Huaigang Special Steel | |||
Simplified Chinese | 淮钢特钢 | ||
Traditional Chinese | 淮鋼特鋼 | ||
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Huaigang | |||
Simplified Chinese | 淮钢 | ||
Traditional Chinese | 淮鋼 | ||
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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. [3] 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. [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]
As of 4 July 2017 [update] ,Shagang Company is a constituent of SZSE 200 Index (mid cap index). [6]
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.
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]
Shagang Company | Huaigang Special Steel | ||||||||||
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Year | Revenue | Profit | Assets | Equity | shares % | Revenue | Profit | Profit to parent | Assets | Equity | Equity to parent |
2007 [11] | 8.994 billion | 563 million | 13.990 billion | 1.774 billion | |||||||
2008 [12] | ![]() | ![]() | ![]() | ![]() | |||||||
2009 [12] | ![]() | ![]() | ![]() | ![]() | |||||||
2010 [12] | ![]() | ![]() | ![]() | ![]() | 63.79% | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
2011 [12] | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |
2012 [2] | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |
2013 [2] | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |
2014 | ![]() | ![]() | ![]() | ![]() | |||||||
2015 | ![]() | ![]() | ![]() | ![]() |