www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Shagang cuts stake in listed steel unit to diversify

By Du Juan (China Daily) Updated: 2015-02-28 09:41

Shagang cuts stake in listed steel unit to diversify

A worker checks stainless-steel cable at a base in Dalian, Liaoning province. [Liu Debin/China Daily]

The decision by the nation's largest private steelmaker, Shagang Group, to sell 55.1 percent of the shares in its Shenzhen-listed unit Jiangsu Shagang Group Co Ltd, was intended to raise funds for diversification beyond steel, analysts said.

The steel sector has been under pressure from overcapacity, rising raw material costs and weak demand for the past three years, and 2015 will be no different, they said.

This situation has forced companies, even those such as Shagang that remain profitable, to look at transformation, said Zhang Lin, a senior researcher at the Lange Steel Information Research Center.

According to Shagang's announcement on Tuesday, it has signed agreements with nine parties to sell the shares at 5.29 yuan (86 cents) per share.

After the transaction, Shagang Group will hold a 19.88 percent stake in the listed company, down from 75 percent previously. The parent company said it may reduce its stake further in the coming six months.

Shagang will gain about 4.6 billion yuan from the transaction. Zhang speculated that the funds will be used in the group's e-commerce platform, logistics service and micro-credit company.

Shagang launched an e-commerce website in September, which needs a capital injection, according to Zhang.

Diversification is nothing new for Chinese steel companies, which started doing this in the 1990s. At that time, large State-owned steel companies tried to extend their industrial chains to both the upstream and downstream sectors in order to reduce the risks of the steel business.

"At this time, though, diversification is a way to help these companies get through a cyclical downturn," Zhang said.

Xu Xiangchuan, chief information officer at industrial consulting group Mysteel, said many steel groups are reallocating their resources to survive the tough market. But those companies' leaders should be aware of the risks of developing non-steel businesses and make careful decisions, he said.

According to the Ministry of Industry and Information Technology, major domestic steel mills' profit margin was just 0.9 percent in 2014, the lowest among all industries.

Shagang's annual report showed that it had revenue of 10.48 billion yuan in 2014, down 2.82 percent year-on-year, while profit increased 25.9 percent to 35.56 million yuan. On Friday, Shagang's shares rose by the daily 10 percent limit to 8.26 yuan.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成人不卡视频 | 久久久久久毛片免费播放 | 欧美资源在线观看 | 国产成人精品日本亚洲语音2 | 免费一级做a爰片久久毛片 免费一级做a爰片性色毛片 | 亚洲激情黄色 | 亚洲三级在线播放 | 成年男人午夜片免费观看 | 欧美精品成人3d在线 | 国产伦精一区二区三区视频 | 亚洲欧美日本综合 | 国产精品19p | 黄色视品| 曰本黄页| 久久精品国产欧美日韩99热 | 经典三级久久 | 国产三级做爰在线观看视频 | 热伊人99re久久精品最新地 | 精品国产三级 | 欧美一级毛片欧美大尺度一级毛片 | 午夜久久网 | 亚洲欧美日韩国产精品26u | 国产高清在线精品一区在线 | 国产免费一级高清淫曰本片 | 美女视频网站色 | 久久九九色| 99成人在线视频 | 日韩精品视频美在线精品视频 | 韩国日本一级毛片免费视频 | 国产午夜不卡在线观看视频666 | 一本三道a无线码一区v小说 | 日韩高清在线播放不卡 | 日韩欧美一区二区久久 | 亚洲国产剧情在线精品视 | 久久精品国产精品亚洲 | 边接电话边做国语高清对白 | 欧美一区二区三区久久综 | 手机看a| 国产精品免费一级在线观看 | 欧美日韩精品一区二区另类 | 久草国产在线播放 |