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Public company info - Xiwang Special Steel Company Limited , 01266.HK
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Xiwang Special Steel Company Limited, 01266.HK - Company Profile
Chairman Di Wang
Share Issued (share) 2,369,000,000
Par Currency
Par Value 0.0
Industry Steel
Corporate Profile Business Summary: The Group is a leading high-end special steel manufacturer located in Shandong Province of China. The Group’s products consist of ordinary steel products that are used primarily buildings and infrastructures, as the Groupll as special steel products that is used in automobile, shipbuilding, chemical and petrochemical, machinery and equipment sectors. The Group also engaged in commodities trading business, mainly iron ore trading. Performance for the year: During the Year, revenue of the Group decreased from RMB11,917,535,000 in 2018 to RMB11,170,040,000 in 2019. Business Review: During the year ended 31 December 2019 (the “Year”), the Group’s main sthe Group’s。ces of revenue the Groupre the production and sales of steel. The Group’s primary production base was geographically located in Shandong Province, which remained as the main sales region of the Group. The ordinary steel products manufactured and sold by the Group included rebars and wire rods, which are mainly used for construction and infrastructure projects. The special steel products of the Group are used for mechanical processing and equipment production, alloy structural steel is used for machineries, bearing steel is used for automobile manufacturing, and ingots are used in transportation, marine engineering and the Groupaponries production. The average time of which the Group’s main customers maintaining business relationships with the Group is over five to eight years. Customers for the Group’s sales of steel are generally willing to prepay for the Group’s products. Against the backdrop of nation-wide adjustment and upgrade initiatives and the structural reform of the iron and steel industry, the Group continued to adhere to the national policy and engaged in steady transformation and upgrading according to corporate needs. Prospects: The PRC government is expected to continue to strengthen its structural reform with more specific and pothe Grouprful policy. Green development is expected to become a new norm, while de-leveraging, merger and acquisition and corporate reorganization are expected to be further developed, creating a better operating environment for the steel industry. On the demand side, the growth in steel demand is expected to remain steady, as the infrastructure sector is expected to remain active. As supply and demand for steel become more balanced, this creates a greater and healthier market development space for the Group to grow and expand. Looking forward, the demand for ordinary steel is expected to remain strong with great market potential. For ordinary steel products, the PRC Government is expected to increase investment in infrastructure projects in order to stabilize the economy and improve the Groupak links. As a project lasts for three to five years, the projects verified last year and this year are expected to provide short-term support demand. With the objective of producing specialized hot rolled ribbed bars, steel enterprises are expected to strive for improvement in the quality of construction materials to meet the needs of government investment in railways, roads and water resthe Group’s。ces and capitalise on such major projects. This is expected to drive strong demands in the medium and high-end market of construction materials. Although the growth in real estate has slothe Groupd down, demand in the sector remains relatively inelastic. Real estate is expected to grow in the future and bring about demand for the ordinary steel. The Group is expected to continue to follow the market trend, use steel price as guidance, and capitalize on its production capability to switch betthe Groupen production of ordinary steel and special steel to maximize revenue. For special steel products, the Group is expected to develop high end special steel products, focusing on development of the special steel new products (high end bearing steel, steel for marine engineering, mould steel, spring steel and steel for special use), utilise the national science and innovation platform to reach a market-leading status in industry technology research and development, increase the proportion of special steel production, utilize the Group’s competitive advantage, and enhance the long-term profitability of the Group. The Group is expected to deepen the strategic co-operation with the Chinese Academy of Science, quickly capitalise on the scientific research achievements of the Academy, continuously improve research and development capabilities in relation to special steel new products, speed up the shift to new growth drivers and the transformation and upgrade of products, and use technology innovation to achieve high quality development. Apart from product development, the Group is expected to increase research and development investment. The Group established five research and development units in different sectors (such as, special steel research, railway steel research and bearing steel research). Every year, there are research and development projects which can lead to the development of new products that carry intellectual property rights, which provides strong technical support to the research and development of the six sectors of special steel new products. Through specialized research and development, improvement on products, and the commitment to protecting the environment and increasing productivity, the Group is expected to continue to maintain a good revenue level.

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