8th World Antimony Forum
TBD
Guiyang, Guizhou, China
12th Rare Earth Summit
TBD
Hangzhou, Zhejiang, China
11th Aluminum Raw Materials Summit
TBD
Hangzhou, Zhejiang, China
9th Magnesium Summit
TBD
Hangzhou, Zhejiang, China
13th World InBiGeGa Forum
TBD
Hangzhou, Zhejiang, China
7th World Antimony Forum
June 13-14, 2019
Changsha, Hunan, China
7th Refractory & Abrasive Materials Summit 2019
May 23-24, 2019
Qingdao, Shandong, China
10th Aluminum Raw Materials Summit
May 16-17, 2019
Zhengzhou, Henan, China
11th Rare Earth Summit
May 9-10, 2019
Qingdao, Shandong, China
8th Magnesium Summit
April 11-12, 2019
Zhuhai, Guangdong, China
12th World InBiGeGa Forum
March 14-15, 2019
Zhuhai, Guangdong, China
Ma'anshan Steel and China Baowu Steel signs agreement on routine connected transactions
2019-12-31 17:30:01 【Print】
On December 30, 2019 Ma'anshan Iron and Steel Co., Ltd. ("Ma'anshan Steel Ltd." or "the Company") and China Baowu Steel signed an agreement on routine connected transactions which will be effective from January 1, 2020 to December 31, 2020.
China Baowu Steel is the controlling shareholder of Masteel Group, while the latter is the controlling shareholder of Ma'anshan Steel Ltd. So via Masteel Group, China Baowu Steel holds a 45.535% stake in Ma'anshan Steel Ltd.; meanwhile, China Baowu Steel's fully-owned subsidiary Baosteel Hong Kong Investment Co., Ltd. holds a 11.640% stake in Ma'anshan Steel Ltd. In total, China Baowu Steel holds a 57.175% stake in Ma'anshan Steel Ltd.
The newly signed agreement includes the following main points:
(1) The Company or its subsidiaries sells to China Baowu Steel or its subsidiaries products including steel products, billets, energy, accessories and related products, with the annual sales amount not to excel RMB40 million (USD5.74 million) (VAT excluded);
(2) The Company or its subsidiaries provides service to China Baowu Steel or its subsidiaries, with the annual sales amount not to excel RMB20 million (USD2.87 million) (VAT excluded);;
(3) The Company or its subsidiaries purchases from China Baowu Steel or its subsidiaries products including iron ores and steel scrap, etc, with the annual purchase amount not to excel RMB147 million (USD21.09 million) (VAT excluded);
(4) The Company or its subsidiaries purchases service from China Baowu Steel or its subsidiaries, with the annual purchase amount not to excel RMB580 million (USD83.19 million) (VAT excluded).
.
China Baowu Steel is the controlling shareholder of Masteel Group, while the latter is the controlling shareholder of Ma'anshan Steel Ltd. So via Masteel Group, China Baowu Steel holds a 45.535% stake in Ma'anshan Steel Ltd.; meanwhile, China Baowu Steel's fully-owned subsidiary Baosteel Hong Kong Investment Co., Ltd. holds a 11.640% stake in Ma'anshan Steel Ltd. In total, China Baowu Steel holds a 57.175% stake in Ma'anshan Steel Ltd.
The newly signed agreement includes the following main points:
(1) The Company or its subsidiaries sells to China Baowu Steel or its subsidiaries products including steel products, billets, energy, accessories and related products, with the annual sales amount not to excel RMB40 million (USD5.74 million) (VAT excluded);
(2) The Company or its subsidiaries provides service to China Baowu Steel or its subsidiaries, with the annual sales amount not to excel RMB20 million (USD2.87 million) (VAT excluded);;
(3) The Company or its subsidiaries purchases from China Baowu Steel or its subsidiaries products including iron ores and steel scrap, etc, with the annual purchase amount not to excel RMB147 million (USD21.09 million) (VAT excluded);
(4) The Company or its subsidiaries purchases service from China Baowu Steel or its subsidiaries, with the annual purchase amount not to excel RMB580 million (USD83.19 million) (VAT excluded).
.