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Baosteel plans to acquire 48.6139% equity in Shandong Steel Rizhao Co-金属展-冶金展-2024广州巨浪国际金属暨冶金工业展览会-巨浪展览-2024 China(Guangzhou)
Int’l Metal &Metallurgy Exhibition
12/11/2023 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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Major Chinese steelmaker Baosteel has announced that it plans to invest RMB 10.703 billion ($1.5 billion) to acquire48.6139 percent equity in Shandong teel Rizhao Co, Ltd, aiming to enhance its market impact in northern China andgain a steady return on investment.
in 2022, Baowu Group produced 131.84 million mt of crude steel, ranking first in terms of volume in the global market.according to the World Steel Association (worldsteel) data. Baowu Group is taroeting an annual crude steel capacity oi200 million mt by 2025
As of the end of 2022, Shandong Steel Rizhao Co. had total assets worth RMB 39.567 billion, while it posted anoperating revenue of RMB 42.239 billion and a net profit of RMB 1.723 billion for the year.As of September 30 this year, Shandong Steel Rizhao Co. had total assets worth RMB 39.175 billion, while iteaistered an operating revenue of RMB 26 346 bilion and a net profit of RMB 528 milion for the first nine month ofthe year.
Moreover, the annual capacity of crude steel of Shandong Steel Rizhao Co. stands at 8.5 million mt
金属展-冶金展-2024广州巨浪国际金属暨冶金工业展览会-巨浪展览-2024 China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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