The hottest Luojing project of Baosteel was abando

Baosteel Luojing project was abandoned as the owner of Zhanjiang iron and steel redevelopment

Baosteel Luojing project was abandoned as the owner of Zhanjiang iron and steel redevelopment

China Construction machinery information

Guide: the third quarter report released on October 30 showed that Baosteel achieved an operating income of 146.086 billion yuan in the first three quarters of this year, a year-on-year decrease of 12.69%; The net profit was 10.791 billion yuan, a year-on-year increase of 70.71%. The net profit realized in July and September has achieved the corresponding supporting profit of 1.181 billion yuan with the vehicle factory in recent years, a year-on-year decrease of 4.88%. The main profit comes from the disposal department

after years of rapid growth, the iron and steel industry has entered a period of low profit operation. Baosteel, a domestic iron and steel production giant, is also adjusting its assets, hoping to make a cautious layout in the industry downturn

on the occasion of the disposal of Luojing project, Baosteel will acquire 71.8032% equity of Zhanjiang iron and steel held by Guangzhou SASAC at a total price of 4.976 billion yuan, striving for a new profit point

it is reported that the net cash loss of Luojing project since its acquisition into the joint stock company has been 600million yuan

facing the cold winter period of 3-5 years

for the decline in performance in the third quarter, Baosteel explained that due to the sluggish external demand, the downturn in the domestic downstream market, the intensification of the contradiction between supply and demand in the steel industry and the continuous decline in steel prices, it is difficult to be optimistic about its future performance

"judging from the current fourth quarter performance forecast, it will not be better than the third quarter." At the third quarter performance presentation meeting, Ma Guoqiang, the general manager of the company, said that except for the gains and losses from asset disposal, the normal operating performance of the company would not decline significantly. This is mainly because there were some asset disposal gains of Wusong in the third quarter, while there were asset impairment losses in the fourth quarter

Ma Guoqiang believes that it is difficult to be optimistic about the domestic steel market because the market situation of oversupply is difficult to reverse

previously, SASAC made it clear that central enterprises should be prepared for the winter in 3-5 years

Ma Guoqiang believes that the above judgment is realistic. He said that the main reason for the plight of the steel industry was overcapacity after the bursting of the economic foam. In the long run, enterprises that lose blood in cash flow will definitely withdraw from this market

4.976 billion yuan into Zhanjiang iron and steel

at the time of the industry downturn, Baosteel Co., Ltd. made careful layout through asset adjustment

on October 30, the company announced that it would acquire 71.8032% equity of Zhanjiang iron and steel held by Guangzhou SASAC at a total price of 4.976 billion yuan

the announcement shows that Zhanjiang iron and steel (consolidated) achieved an operating revenue of 232 million yuan and a total profit of -427 million yuan in the first three quarters of this year. On the benchmark date of the appraisal, Zhanjiang iron and Steel Co., Ltd. had total assets of 9.835 billion yuan and total liabilities of 2.904 billion yuan

in view of the fact that the Zhanjiang iron and steel project has been carried out, after the completion of this equity acquisition, Baosteel will invest construction funds to increase the capital of Zhanjiang iron and steel, increasing the registered capital of Zhanjiang iron and steel from the current 7.093 billion yuan to 8 billion yuan

at present, iron and steel production capacity is in a surplus state. Why does Baosteel still invest so heavily in iron and steel enterprises

Zhanjiang project is a good investment. Ma Guoqiang said: first, on the basis of eliminating backward production capacity, Zhanjiang project supervision did not increase domestic production capacity; Second, from the perspective of the project, the project is in line with the development trend of China's steel to the coastal layout, which is convenient for the transportation of raw materials. Baosteel Group can become the most efficient iron and steel enterprise through technology and management. At present, the expected internal rate of return of the company is 9%

on the same day, the announcement also said that the board of directors approved the company to participate in the West Third pipeline project of PetroChina, with a thickness difference of up to 10 times and a capital of no more than 10billion yuan

the net cash loss of Luojing project may reach 600million yuan

Baosteel entered the Zhanjiang project with confidence. At the same time, the investment in Luojing project exited with failure

on October 30, the company also announced that the book value of COREX assets to be transferred was 2.768 billion yuan, and the electro-hydraulic servo message universal testing machine was widely used in the dynamic and static mechanical property tests of materials and parts. The asset evaluation value was 2.731 billion yuan, and the evaluation impairment rate was 1.33%

corex is a smelting reduction iron making process, which is a part of Luojing project. Baosteel has been particularly optimistic about the project, claiming that it represents the development direction of iron making process

in April, 2008, Baosteel Co., Ltd. named the golf corruption problem at least 61 times from Baosteel Group to the station at a total price of 14.34 billion yuan. Haipudong iron and Steel Co., Ltd. purchased the Luojing project. The price was paid interest free for five years, 20% per year, until December 31, 2012. According to the installment payment, the transaction price paid each year is more than 2.8 billion yuan

although the technology is advanced, due to various reasons, the project has not brought direct profits to Baosteel, but has become a big burden to the company

at the third quarter report and analysis meeting, Zhu kebing, chief financial officer of Baosteel, said that the difference between the book value and the assessed value of the assets related to the transfer of COREX was about 36million yuan, which would be reflected in the company's current profits and losses

how much loss did the investment in Luojing project bring? Ma Guoqiang revealed a data: up to now, the accumulated depreciation of Luojing project has been 5.2 billion yuan and the net cash loss has been 600million yuan since it was acquired into the joint-stock company

is this data the specific loss of the project? When calling Baosteel Co., Ltd., the relevant staff said that the announcement issued by the company shall prevail