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Baoshan Steel disengages SS & Special Steel
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Monday, 05 Mar 2012
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Baoshan Steel reveals on February 28 that it will disengage its subordinate stainless steel land special steel capacity; benchmark prices for this disengagement aggregate CNY45.2 billion, and estimation goes that the company sets to gain a tax-excluded profit of CNY9.58 billion.

Baoshan Steel’s production will decline when the disengagement is done. Primitively, it is predicted that the volume will drop to 22 million tonnes or so from 26 million tonnes.

China International Capital Corporation Limited analysis show, this revenue is to be counted as its non-mainstay-business income, adding EPS by CNY0.41; also leading a ROE rise from 6.96% to 7.71%.

Source - www.steelhome.cn/en
China steel information centre and industry database

(www.steelguru.com)

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