Shandong Iron & Steel increases RMB2 billion of investment to Rizhao Steel
2017-12-26 16:54:03 [Print]
Learned from the Shenzhen Stock Exchange, Shandong Iron & Steel Group Co., Ltd. (hereinafter referred to as "Shan Steel") announced that they increased investment of RMB2.081 billion to its subsidiary company, Rizhao Iron & Steel Co., Ltd. (hereinafter referred to as "Rizhao Steel").
According to the announcement, Rizhao Steel is a limited liability company funded by Shan Steel in February 2009. Up to now, the registered capital of Rizhao Steel has
reached RMB3.02 billion and Shan Steel holds 51 per cent stake in the company. Huatai Securities Asset Management (Shanghai) Co., Ltd. (hereinafter referred to as "Huatai Securities") plans to increase investment of RMB 2 billion and Shan Steel will increase capital of RMB2.081 billion in proportion. After that, Shan Steel will still hold 51% of stake in Rizhao Steel.
The announcement shows that Rizhao Steel's competitive products project was listed as the key project of iron and steel industry structure adjustment in Shandong and the increasing investment will be helpful to improve the company's overall production level, promote the product structure optimization and enhance the comprehensive competitiveness.
According to the announcement, Rizhao Steel is a limited liability company funded by Shan Steel in February 2009. Up to now, the registered capital of Rizhao Steel has
reached RMB3.02 billion and Shan Steel holds 51 per cent stake in the company. Huatai Securities Asset Management (Shanghai) Co., Ltd. (hereinafter referred to as "Huatai Securities") plans to increase investment of RMB 2 billion and Shan Steel will increase capital of RMB2.081 billion in proportion. After that, Shan Steel will still hold 51% of stake in Rizhao Steel.
The announcement shows that Rizhao Steel's competitive products project was listed as the key project of iron and steel industry structure adjustment in Shandong and the increasing investment will be helpful to improve the company's overall production level, promote the product structure optimization and enhance the comprehensive competitiveness.
