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.

Meishan Iron and Steel
  • company limited by shares,
  • subsidiary
IndustryIron and steel manufacturing
Founded
  • 28 June 1990 (1990-06-28) (as company)[1]
  • 26 June 2001 (2001-06-26) (as limited company)[2]
FounderShanghai 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
ParentBaoshan 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 meaningShanghai Meishan Steel and Iron Company Limited by Shares
Shunting locomotive GKD1A owned by Meisteel.

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]

Data
YearTurnoverResultTotal AssetsNet 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
gollark: I mean, theoretically you still have more total engineers available, which is a good thing, even if individuals might get less pay.
gollark: I mean, we're geographically Europe, and *politically* basically Europe still.
gollark: No, the UK. Which is probably still considered Europe.
gollark: Roughly, yes.
gollark: I mostly picked it because I quite like programming as a hobby *now*, and assumed that would make it easier/better as an A-level.

References
  1. Government database (in Chinese)
  2. 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.
  3. "Shanghai Meishan Iron & Steel Co., Ltd.: Private Company Information - Bloomberg". bloomberg.com. Retrieved 2017-03-08.
  4. 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). Retrieved 1 December 2019.
  6. "Official Journal 1998 N°30" (PDF) (in Chinese). State Council of China. 22 December 1998. Retrieved 12 October 2016.
  7. http://blog.sina.com.cn/s/blog_544a7adf0100mwmj.html
  8. 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.
  9. 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.
  10. "2005 Annual Report" (PDF). Boshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 29 March 2006. Retrieved 12 October 2016.
  11. "Praxair China Expands Supply Agreement with Meishan Iron & Steel". Praxair. 1 April 2008. Retrieved 6 October 2016.
  12. 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). 南京投资与规划处. 2018-12-05. Retrieved 1 December 2019.
  13. 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.
  14. "2015 Annual Report" (PDF). Baoshan Iron and Steel (in Chinese). archive of Shanghai Stock Exchange. 31 March 2016. Retrieved 3 October 2016.
  15. http://money.finance.sina.com.cn/bond/notice/sh129703.html
  16. "2008 Annual Report". Meishan Iron and Steel (in Chinese). Chinabond.com.cn. 24 April 2012 [Originally published in 2009]. Retrieved 7 October 2016.
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