Huabao Securities: Blast furnace start-up increases compared to the low demand season, steel prices downward pressure.
In July, the terminal demand for steel is still greatly affected by seasonality, and the space for supply contraction is limited. It is expected that the steel price will continue to decline in July, and the short-term profit situation of steel companies may be difficult to improve significantly.
Sichuan Development Lomon (002312.SZ) holds 49% equity of Chongqing Iron & Steel Group Mining Co., Ltd.
Gelonghui July 22 | Chuanfalong Python (002312.SZ) said on the investor interactive platform that the 10.19 million investment income from shareholder dividends in the 2023 annual report came from the dividends of Tibet United Enterprise Management Co., Ltd. The company holds 49% of the shares in Chongqing Iron and Steel Group Mining Co., Ltd., thereby indirectly receiving part of its core asset, Heavy Steel Xichang Mining Co., Ltd. (Taihe Iron Ore Vanadium-Titanium-Magnetite Resources); the investment income of Heavy Steel Mining confirmed by the Equity Law in 2023 is about 0.15 billion yuan. According to the Securities and Futures Act, see No. 18 - “Listed Company Securities Issuance Registration Administration Office
Chongqing Iron (01053): Huabao Investment has accumulated a shareholding of 13.0086 million A-shares in the company, and the shareholding plan has not yet been fully implemented.
Chongqing Iron (01053) announced the progress of its wholly-owned subsidiary's plan to increase its shareholding in the company, which is expected to be completed by 2024.
Chongqing Iron & Steel (601005.SH): Huabao Investment has accumulated a shareholding of 13.0086 million shares.
On July 19th, Gelunhui reported that Chongqing Iron & Steel (601005.SH) received a notice letter from Huabao Investment on July 19th, 2024, stating that it had increased its A-share holdings in the company by 13.0086 million shares, accounting for 0.15% of the company's total shares, through centralized bidding through the Shanghai Stock Exchange from July 18th, 2024 to July 19th, 2024. As of now, Huabao Investment has accumulated a total of 13.0086 million A-share holdings in the company, accounting for 0.15% of the company's total shares. The plan to increase holdings has not yet been completed, and Huabao Investment will continue to increase its A-share holdings in accordance with the plan.
Hong Kong stock market concept tracking: Institutions are optimistic of the steel industry's profit recovery in the second half of the year, as infrastructure projects may have concentrated efforts to complete. (Attached concept stocks)
The situation of relatively surplus raw material supply will also continue, and steel mill profits are expected to rebound due to the double bullish of demand improvement and cost reduction.
Chongqing Iron plans to receive a shareholding in A-shares from its controlling shareholder's wholly-owned subsidiary, Huabao Investment.
Chongqing Iron & Steel (01053) has announced that on July 17, 2024, the company received a notice from Huabao Investment Co., Ltd. (Huabao Investment), a wholly-owned subsidiary of its actual controller, China Baowu Steel Group Co., Ltd. (China Baowu), regarding the plan to increase its shareholding in Chongqing Iron & Steel A shares. Huabao Investment plans to increase its A-share capital by means of self-owned funds through centralized bidding trading within 12 months from the date of the announcement, with an upper limit of RMB 0.3 billion and a lower limit of RMB 0.15 billion, with a maximum purchase price of RMB 2.00 per share. Announcement.
Chongqing Iron & Steel Stake Increase Plan
Chongqing Iron (01053.HK): China Baowu's wholly-owned subsidiary plans to increase its shareholding in A shares by 0.15 billion-0.3 billion yuan.
On July 18th, Gelunhui reported that Chongqing Iron & Steel (01053.HK) issued an announcement. On July 17th, 2024, the company received a notice from the wholly-owned subsidiary of the company's actual controller, China Baowu Iron and Steel Group Co., Ltd. ("China Baowu"), Huabao Investment Co., Ltd. ("Huabao Investment"), regarding the plan to increase holdings of Chongqing Iron and Steel A shares. Huabao Investment plans to increase its A-share holdings of the company through centralized competitive trading with its own funds within 12 months from the date of this announcement, with a maximum increase of 0.3 billion RMB and a minimum increase of 0.15 billion RMB, and an upper limit on the increase price.
Express News | Chongqing Iron & Steel - Maximum Amount of Increase in Shareholding Shall Be RMB300 Mln
Express News | Chongqing Iron & Steel Co Ltd - De Facto Controller's Unit's Plan to Increase Shareholding in Co
Chongqing Iron & Steel (601005.SH): The subsidiary of the controlling shareholder, Huabao Investment, intends to increase its shareholding in the company by 0.3 to 0.5 billion yuan.
On July 17th, Gelunhui reported that Chongqing Iron & Steel (601005.SH) announced that on July 17th, 2024, the company received a notice from Huabao Investment Co., Ltd., a wholly-owned subsidiary of China Baowu Iron & Steel Group Co., Ltd. (hereinafter referred to as 'China Baowu'), regarding its plan to increase its shareholding in Chongqing Iron & Steel A-share through centralized bidding trading using its own funds within 12 months from the date of this announcement. The upper limit of the increase in shareholding amount is 0.3 billion RMB, and the lower limit is 0.15 billion RMB.
The controlling shareholder subsidiary of Chongqing Iron & Steel (601005.SH) plans to increase its shareholding in the company by 0.15 billion to 0.3 billion yuan.
Chongqing Iron & Steel (601005.SH) issued an announcement. On July 17, 2024, the company received actual control...
Huafu Securities: Profits hit a bottom waiting for recovery, steel prices still have support.
In 2024, there is an expected contraction in steel supply, downstream consumer demand is expected to stabilize, and the steel supply-demand relationship may be improved. Considering the positive development of steel products towards high-end and high added value direction, the industry concentration is expected to further increase, and industry profits may bottom out and recover.
Chongqing Iron & Steel to Log Wider Attributable Loss in H1
Announcement of expected loss in performance for the first half of 2024.
Chongqing Iron & Steel Projects H1 2024 Loss Increase
Chongqing Iron (01053) is expected to incur a net loss of approximately 0.69 billion yuan in the first half of the year.
Jinwu Financial News | Chongqing Iron & Steel Co., Ltd. (01053) announced that the net loss attributable to shareholders of listed companies for the first half year of 2024 is expected to be around RMB 0.69 billion, an increase of about RMB 0.255 billion compared with the same period of the previous year (statutory disclosure data); net loss attributable to shareholders of listed companies after deducting non-recurring profit and loss is approximately RMB 0.691 billion, which will increase the loss by about RMB 0.244 billion over the same period last year (compared with legally disclosed data). The main reason for this period's earnings forecast loss is that in the first half of the year, the domestic steel industry still showed “high production, high cost, high inventory, low demand, low prices, and low prices
Chongqing Iron (01053.HK): Expecting a net loss of approximately 0.69 billion yuan in the first half of the year.
On July 10th, Gelunhui, Chongqing Iron and Steel Co., Ltd. (01053.HK) announced its performance for the first half of 2024, which is expected to be a net loss of approximately RMB 690 million for shareholders of the listed company. Compared with the same period last year (statutory disclosure data), it will increase loss by approximately RMB 255.26 million; the net loss after deducting non-recurring gains and losses attributable to shareholders of the listed company is approximately RMB 691 million, which is expected to increase loss by approximately RMB 244.2 million compared with the same period last year (statutory disclosure data). In the first half of 2024, the domestic steel industry is still exhibiting growth.
CHONGQING IRON: ANNOUNCEMENT ON ESTIMATED LOSS IN THE INTERIM RESULTS OF 2024
Chongqing Iron & Steel (601005.SH): It is expected to have a net loss of approximately 0.69 billion yuan in the first half of the year.
Chongqing Iron & Steel (601005.SH) announced on July 10 that, according to preliminary calculations by the finance department, the net income attributable to shareholders of the listed company in the first half of 2024 is expected to be approximately -690 million yuan, an increase in losses of about 255.26 million yuan compared with the same period last year (statutory disclosure data). The net income attributable to shareholders of the listed company, excluding non-recurrent gains and losses, is expected to be approximately -691 million yuan in the first half of 2024, an increase in losses of about 244.2 million yuan compared with the same period last year (statutory disclosure data). In the first half of 2024, the domestic steel industry is still showing high production and high
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