Shougang is introduced to Yantai East Star Group 30 years later to withdraw from the previous two months has been listed for sale of 2 billion 600 million assets.

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original title: Shougang entered the Yantai East Star Group intends to withdraw from the previous two months after 30 years have been listed for sale 2 billion 600 million assets | Beijing SEEC

news of the new Beijing News (reporter Zhao Yibo) Shougang's disposal of the assets under the flag is still continuing. In December 26th, the pre disclosure information seen by the Beijing News reporters from the North crossing indicated that Shougang was going to sell the 35% stake of Yantai Shougang Dongxing Group Co., Ltd. (East Star Group). At present, the listing price has not been disclosed.

Dongxing group has a long history. According to official website, in the late 60s of last century, Dongxing group built a factory in the deep mountains of Panshi County, Jilin province. It was originally a "three line" military enterprise directly under the Ministry of weaponry industry, specializing in the production of small caliber artillery shell fuzes. It was called "state-operated No. 324 factory". According to the national unified deployment in 1988, the factory was divided into the Shougang Group. In 1993, in the extremely difficult situation, the factory relied on self reliance to complete the overall relocation of more than 7000 people across the sea and across the province, and began two pioneering businesses in Yantai.

at present, East Star Group covers an area of 800 thousand square meters, respectively, in a plant in Yantai Development Zone, Fushan District, Beijing City, Guangzhou City, Panyu District Miyun Development Zone investment, 14 business entities and under the jurisdiction of the 8 joint ventures, the total number of employees more than 4000 people.

, as one of the top steel giants of China and one of the largest state-owned enterprises in Beijing, has begun to implement a large business transformation since the completion of the relocation. For the company strategy, Shougang said in the official website that by building a new capital operation platform, the two leading industries of steel and urban integrated service providers should be emphasized and coordinated development.

in August this year, Shougang official website pointed out that it will transform from physical management to value management through equity operation and orderly advance and retreat, from business activity control to financial control transformation, from iron and steel industry to multi industry development.

recently, the capital transfer of Shougang Group has continued.

in November this year, Shougang Group's Beijing Shougang Mining investment limited liability company will Anhui first Dachang ore metal materials Co., Ltd. 51% stake in the listing to sell, transfer price 1 billion 770 million yuan.

in December of this year, Dongfang iron and Steel Investment Co., Ltd. of Shougang Group sold the 40% equity interest and 834 million yuan debt of Donggang Group Co., Ltd., and the price was 860 million yuan. The latter is the first overseas investment project of Shougang.

accordingly, since November, the above two major projects have been transferred over 2 billion 600 million yuan. But, first, Dachang ore East steel group and East Star Group Three transfer project asset quality is not the same.

first Dachang ore is mainly responsible for the iron ore project in Huoqiu. According to the Beijing News reported on November 27th, due to the project itself and the private shareholders of Anhui Dachang Mining Group Co. Ltd. involved with Ni Fake as the head of Anhui Woan officialdom, first Dachang ore project continued to shut down. Since 2016, the first Dachang ore did not produce income, operating income and net profit is zero. At the end of June 2017, total assets of 4 billion 690 million yuan, total liabilities 1 billion 775 million yuan, equity 2 billion 918 million yuan.

East Steel Group is also not optimistic. According to the information of the North exchange, the East Steel Group is in a state of discontinuation. The projects listed in the North exchange show that the final accounts of the project are not completed as of the evaluation report. Due to the lack of final accounts, East steel property certificate has not been handled. The business income of Donggang group was zero in 2016, and the net profit was 236 million 540 thousand yuan.

Dongxing group has a better performance. According to the North exchange, the business income of Dongxing group was 470 million yuan in the first 10 months of 2017, and the net profit was 80 million 720 thousand yuan. The total assets are 1 billion 295 million yuan, the total liabilities are 1 billion yuan, and the owner's rights and interests are 290 million yuan.

According to the official website of

, the East Star Group has been in the car with a field of air conditioning, high performance NdFeB permanent magnet materials, car manufactured by powder metallurgy parts, engineering machinery parts, metallurgical equipment, stamping products, high and low voltage electrical equipment with superior product quality and establish the East Star brand, and brought together Caterpillar, GE, TOYOTA, Honda, SONY, Matsushita, Yaskawa, Behr, Valeo, modern, Samsung, LG, Doosan machinery, Chinese Dongyang, FAW Group, SAIC, GAC, Futian, Shougang Group, Baosteel, Anshan Iron and steel, such as a large number of high-end customers.

Author: Zhao Yibo

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