 Shougang Concord International Enterprises Company Limited and its subsidiaries (the Group) is a vertically integrated heavy plate manufacturing enterprise in China. It has expanded its business scope by extending its tentacles to both upstream and downstream operations along the value chain. Its operations are mainly segregated into four segments currently, namely, steel manufacturing, mineral exploration, steel and iron ore trading and shipping operations.
For heavy plate manufacturing, the Group currently owns and operates two mills in Qinhuangdao, Hebei, China, namely Qinhuangdao Shouqin Metal Materials Company Limited (Shouqin) and Qinhuangdao Shougang Plate Mill Company Limited (Qinhuangdao Plate), with an aggregated steel slabs and heavy plates production capacity of 3.6 million tonnes and 2.6 million tonnes per annum respectively. In addition, it has established a downstream processing centre, with designed processing capacity of 0.3 million tonnes per annum, to provide more value-adding products and services to its customers.
To enhance the Group's investments in upstream supply chain, it has established Qinhuangdao Shouqin Longhui Mining Company Limited (Shouqin Longhui) to explore local iron ore resources in Qinhuangdao. Together with the long-term iron ore offtake agreements with Australia-listed iron ore producer Mount Gibson Iron Limited (Mt. Gibson) and its 1.46 billion ordinary shares interest (equivalent to about 27.2% stake) in Shougang Fushan Resources Group Limited (Fushan Resources), which is one of the largest hard coking coal producer in China, these upstream interests are expected to provide a good profit base for the Group.
Listed on the main board of the HKSE since 1991, the Company was one of the first "red chips" in Hong Kong. With its extension of business scope by investing in both upstream and downstream operations along the value chain, the Group is staying firm and is confident of creating values for its shareholders.
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