Angang New Steel | South China Morning Post
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  • Jan 30, 2015
  • Updated: 4:27pm

Angang New Steel

Company profile - Angang Steel

Angang Steel is the biggest Hong Kong-listed Chinese steelmaker by value. Its principal activity is the production and sale of billets, wire rods, thick plates, cold rolled sheets and large steel products. It operates solely in the domestic market.

Monday, 11 June, 2007, 12:00am

Beijing may further reduce tax rebates on steel exports

China may further cut or even remove rebates for value-added tax on steel exports to curb overseas sales amid disputes arising from the country's mounting trade surplus, according to a China Business News report, citing China Iron and Steel Association executive chairman Luo Bingsheng.

25 Jan 2007 - 12:00am

Angang planning to boost capacity

Angang New Steel, the listed unit of China's second-largest steelmaker, plans to set aside three billion yuan as capital expenditure for the second half this year to boost production capacity, brushing aside concerns of an industry glut.

17 Aug 2006 - 12:00am

Angang plans to build 22.6b yuan steel plant in Liaoning

Angang New Steel, the listed unit of China's second-largest steelmaker, plans to invest 22.6 billion yuan to build a steel production plant in northeastern Liaoning province to improve its product mix.

Angang said it planned to invest eight billion yuan in the project this year, 12 billion yuan next year and 2.6 billion yuan in 2008.

12 Aug 2006 - 12:00am

Angang New Steel

The group's principal activities are the production and selling of billets, wire rods, thick plates, cold rolled sheets and large steel products. It operates solely in domestic markets.

26 Jun 2006 - 12:00am

WHAT THE BROKER SAID

About a year ago Merrill Lynch upgraded its recommendation on Angang New Steel, one of the mainland's biggest steelmakers, to 'buy' based on plans to acquire the parent company's steelmaking assets and surprisingly strong profits in 2004.

23 Apr 2006 - 12:00am

Steelmakers reinforce rise in prices

Traders say there should be a limit to increases due to the considerable overhang of excess capacity

China's steel prices are on the march after a nine-month deflationary spiral that dragged the country's leading steel mills into loss-making operations in the final quarter of last year.

21 Feb 2006 - 12:00am

Angang postpones fund raiser

Rights issue, asset purchase off until flotation of state-held shares is completed

Angang New Steel is confident it can still complete an 18 billion yuan asset acquisition from its parent firm by the end of the year, despite uncertainties over its ability to issue new shares to fund the purchase.

17 Aug 2005 - 12:00am

Angang profit jumps on soaring prices

Angang New Steel, one of the mainland's biggest listed steelmakers, yesterday posted a 25.44 per cent increase in net profit last year as steel prices soared amid growing demand.

Earnings reached 1.79 billion yuan, or 60.7 fen a share, compared with 1.43 billion yuan, or 48.4 fen a share, in the previous year.

17 Mar 2005 - 12:00am

Angang expects sale boost as prices drop

Angang New Steel expects to export up to three times more steel products this year than last, as mainland steel prices are now about 13 per cent lower than international prices in the wake of Beijing's economic austerity measures.

13 Aug 2004 - 12:00am

WHAT THE BROKER SAID

About a year ago, Core Pacific-Yamaichi revised upwards its target price for steel-maker Angang New Steel, the mainland's second-biggest steel producer, to HK$1.97 from $1.65 and maintained its buy recommendation.

11 Jul 2004 - 12:00am

Angang dismisses concerns over costs

Steelmaker says it is aided by in-house supply of materials

Angang New Steel - the listed flagship of the mainland's second-largest steelmaker, Anshan Iron and Steel Group - says it is not worried fast-growing industry capacity will lead to sharp rises in materials costs.

21 Aug 2003 - 12:00am

Maanshan Iron & Steel profit soars 560pc

First-half profit at Maanshan Iron & Steel soared 560.83 per cent year on year, helped by strong product prices and higher production volumes.

20 Aug 2003 - 12:00am

WHAT THE BROKER SAYS

Core Pacific-Yamaichi has revised upwards its target price for steel maker Angang New Steel to HK$1.97 from $1.65 and has maintained its buy recommendation.

6 Jul 2003 - 12:00am

Mainland car demand drives up steel counters

Manufacturers have benefited from higher prices, but some analysts differ on whether the good times will last

Roaring growth in China's car industry has been the main force behind surging share prices of high-end steel manufacturers such as Angang New Steel and Baoshan Iron and Steel.

24 Jun 2003 - 12:00am

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