Guangzhou-Japan Backdoor Steel Co., Baosteel

A protracted restructuring. December 14 Night, Guangzhou Iron and Steel Co., Ltd. (hereinafter referred to as "Canton Steel", 600894.SH) issued a notice, "one months, the company actively with the reorganization of the party Guang-day group for serious research and consultation, has drawn up a major asset restructuring of the initial programme."　　Canton Day is the largest escalator equipment supplier in southern China. Prior to November 9, the Canton Steel shares have issued a notice of suspension; "Guangzhou Iron and Steel Co., Ltd. received the holding shareholder Guangzhou Iron and Steel Enterprise Group Co., Ltd., in Guangdong province, the Guangzhou municipal government coordinated guidance, is planning related to the company's major issues, the relevant programmes are to the relevant departments for policy advice However, as early as June 28, 2008, Guangzhou Iron and steel Group and Shao Steel Group, has been established with Baosteel Group, Guangdong Iron and Steel Group Co., Ltd., the new company registered capital of about 35.86 billion yuan. Among them, Baosteel has a cash contribution of 28.688 billion yuan, holding 80%, Guangdong State-funded committee, Guangzhou Sasac to Shaoguan Steel, Canton Steel, the state-owned net assets of 7.172 billion yuan, total shareholding 20%.　　Today, Guangzhou Iron and Steel Group's core assets of the broad steel stake will be a new husband, Guangdong Iron and Steel Group and its construction of the main project in Zhanjiang will go?　　Baosteel Zhangbao?　　Guang Steel shares a few announcements are quite strange. As early as 2.5 ago, Baosteel has become a controlling shareholder of Guangdong Iron and Steel Group, Guangdong Provincial Development and Reform Commission and Guangdong Iron and Steel Group Co., Ltd., May 10 this year, also jointly convened "Guangdong to eliminate steel production capacity 15 million tons and the implementation of 5 million tons of Guangzhou steel environmental Relocation Zhanjiang steel Project media ventilation."　　However, in a number of announcements since November 9, Canton Steel has repeatedly stressed that "is planning the major issues related to the company", is "in Guangdong Province, the Guangzhou municipal government coordinated under the guidance of" carried out, a word did not mention Baosteel.　　This caused a lot of speculation in the market, Baosteel and Guangzhou Iron and steel Group and Shao steel restructuring will occur twists and turns, Zhanjiang project will not give up halfway? "The general direction of Baosteel's restructuring of Guangdong Steel has not changed and will certainly continue, and the steel business remains in the group." December 15, Guang Steel shares Dong Yang Yaoxing clearly told our correspondent, Zhanjiang project will not stop, "according to the Zhanjiang Development and Reform Commission, Zhanjiang project is to start without turning back arrows."　　But Yang Yaoxing admits that the details of the reorganization of Baosteel and the Guangzhou Steel Group may be adjusted if it borrows the broad steel shell of the listed company on a wide-scale day. As for the Canton Steel announcement, why did not mention the big shareholder Baosteel? "This thing we listen to the government. "Yang Yaoxing said," The announcement refers to the provincial government on the Baosteel group, Baosteel's words may be through the provincial government, municipal government.　　A person close to Baosteel has also confirmed to reporters that the steel selling shell has consulted Baosteel.　　In fact, the canton steel selling shell is not only self-help, but also the Guangdong provincial high level for the Pearl River Delta steel industry for the long-term development of a layout. In the first three quarters of this year, Guang Steel realized operating profit-19.8021 million yuan,And the final loss of 35.57 million yuan. According to people familiar with the situation, Canton Steel and the Pearl River Steel companies are now in debt, "Baosteel restructuring also saved it, even if 10 billion, can only be sustained for two years."　　"The person believes that the steel strip out of Guangzhou Iron and Steel Group, Baosteel and Guangdong Iron Group is tantamount to dumping a burden, in favor of Zhanjiang project travel light."　　Yang Yaoxing also said that the broad steel selling shell "can solve a series of problems."　　Dilemma in fact, in the past two years, Baosteel has been tirelessly promoting the substantial restructuring of the Guangdong Iron and Steel group, and received strong support from Guangdong. This March, Baosteel Group deputy general Manager, Zhaoquin, general manager of Guangdong Iron and Steel Group, Zhanjiang Iron and Steel Engineering headquarters commander in chief, said to reporters, "Canton steel relocation and staff placement programme has been clear: some people go to Zhanjiang, in Guangzhou Nansha to build a rolling mill, you can divert part of the staff;　　Many products to be transported to Guangzhou to sell, we build a logistics center, and can digest some people; the land of Guang-steel, after the government has been collected, arranged by the city for construction, we can build a property company, and some of the staff are old enough to retire, and we guarantee that we will pay the four gold and make our life stable. According to Baosteel's plan at the time, the production and operation of the Canton Steel will not stop, "production workers to carry out training, (Guangzhou) this side of production gradually reduce a little, reduce the point, people all transferred away, production only stopped."　　"Zhaoquin said. At the same time, the construction of Zhanjiang Steel project has not stopped for a moment. In October this year, an official at the Zhanjiang Steel Project Construction Command told reporters, "Zhanjiang government and Baosteel group work together to accelerate the advance of the steel project," Zhanjiang for the steel base project supporting the Jianjiang water supply Hub project, Mao Zhan Railway, Zhanjiang Shugang Road,　　The East China Sea Island Mai Wang to the east simple 220,000 KV power supply line project, the East China Sea Levee side Auxiliary road project and so on, is intensifying the construction, the plan total investment 12 billion yuan, accumulated has completed the investment more than 3 billion yuan. However, the Zhanjiang project has so far not been "Zhongsheng", which makes Baosteel in a very embarrassing situation. According to the reporter understand, in the past two years, Baosteel has been doing everything possible to seek a project in Zhanjiang as soon as approved, and Zhanjiang Project's planned capacity from 10 million tons adjusted to 5 million tons.　　At the same time, the Guangdong side also in accordance with the national "equal displacement" or "reduction replacement", "no new steel production capacity" of industrial policy requirements, in Guangdong Province, the elimination of 15 million tons of backward steel production capacity, and decided to the overall relocation of the Canton Steel to Zhanjiang.　　But in October, in Zhanjiang, this reporter saw, in the land demolition and site formation of the steel Project site, in addition to the pelletizing plant has been put into production, the rest of the desolate, almost empty, and occasionally a truck opened, raised a piece of dust. Since Zhanjiang Steel project cannot be built and put into production according to plan, the reorganization of Baosteel and Guangdong State-owned iron and steel Enterprises has not entered the substantive stage. This also makes the Manter cadres and staff, disrupted the wide-steelNormal production and business planning, which may also be a major reason for the decline in the performance of the Canton Steel.　　In Guangdong, in Zhanjiang, Baosteel now into or retreat? November 21 this year, Baosteel Group chairman Lejiang, accompanied by Zhaoquin, specifically to Zhanjiang Steel project site and Zhanjiang Dragon Logistics company investigation. "With the development of national economy and environmental protection situation, the development of city steel mills is bound to be greatly restricted, and Baosteel's determination to build Zhanjiang steel project must not be shaken."　　Lejiang in the research. Prior to November 11, Baosteel Group Vice Chairman, party secretary Liu Guoshe also went to Zhanjiang, listening to the construction of Zhanjiang Steel base infrastructure Project report. "The main leadership of the group has rushed to Zhanjiang, which shows Baosteel's determination and confidence in Zhanjiang Steel project."　　Said one of Baosteel insiders.　　But Baosteel cannot afford to waste time. This reporter learned from Zhanjiang, in order to Zhanjiang Iron and steel project, the local government from May 2008 began to land demolition work, by September this year has completed 12 villages 2226 villagers 9837 People's housing compensation and demolition and surface attachment compensation and clean-up, and on April 30 this year to start construction relocation villagers settlement community. At present, villagers looking forward to early employment are waiting for the steel project to mount quickly.　　The local governments of Baosteel and Zhanjiang have invested huge sums of money for demolition, resettlement and construction. This reporter obtains the latest news is, has been in Baosteel and Guang Steel, Shao steel reorganization and Zhanjiang project to pay a lot of painstaking efforts of Zhaoquin, has been transferred to Baosteel Group headquarters, no longer as Guangdong Iron and steel group general Manager and Zhanjiang Iron and Steel project commander in chief position.