Home News Industry dynamics The steel industry's collective profit fushun special steel is still in the loss.

Industry dynamics

The steel industry's collective profit fushun special steel is still in the loss.
  • 2018-02-03
In the case that the listed steel companies are generally profitable and the stock price is red, there are a few stocks of green: fushun special steel (600399.SH), antai group (600408.sh), zhongyuan special steel (002423.SZ).
Thanks to a rebound in steel prices, China's steel industry has turned a profit since 2016.The vast majority of steel companies that have announced their results are doing well.
However, fushun's 2017 pre-loss performance announcement was released on January 31.It said the losses were due to historical reasons for "physical assets such as inventory".
Fushun said it found significant problems in physical assets such as inventory, which could involve major changes in the company's previous annual financial data.
China securities regulatory commission on January 30, liaoning regulatory bureau (hereinafter referred to as liaoning securities regulatory bureau) issued a request fushun special steel correction measures decided, don't think fushun special steel internal control specification, in terms of asset management (mainly including inventory, fixed assets, projects under construction) there are many weak links, and cannot be reasonably ensure enterprise financial report information and true, in violation of the "enterprise internal control basic norms" and so on.
Liaoning securities regulatory bureau's decision also said fushun special steel accounting foundation work is weak, accounting is not standard, not according to stipulations reconciliation problems, such as a violation of the "guidelines for fundamental accounting work" and so on.
The liaoning securities regulatory bureau began to conduct on-site inspection of fushun special steel on December 7, 2017.According to the on-site inspection method of listed companies, fushun special steel needs to make a written rectification report before February 28 this year.
Previously, fushun's parent company was northeast special steel group co., LTD. (hereinafter referred to as northeast special steel).Dongbei special steel used to be the star enterprise of the production of military steel, and also the largest special steel enterprise in north China.
Due to the debt crisis, dongbei special steel has officially entered the bankruptcy reorganization program since October 2016.After several choices, the steel group took over the northeast special steel.
In September 2017, shen wenrong, chairman of sha steel group, became the controlling shareholder of dongbei special steel, with a 43% stake.In addition, the acquisition of the northeast special steel jincheng sha chau also indirectly owns a 38.22 percent stake in fushun special steel, the control of fushun special steel.
The net profit of fushun special steel in 2012-2016 was 0.20.5 billion yuan, 0.232 billion yuan, 0.47 billion yuan, 196.7 million yuan and 111.2 million yuan, respectively, before being connected to sand steel.
However, after this check, fushun special steel has forecast 2017 losses, and faces delisting risk, because of its "2017 annual audited net profit attributable to shareholders of listed companies is negative, and this may be because of retroactive adjustment, the company consecutive losses."
Stock according to the Shanghai stock exchange listing rules "the provisions of the last two fiscal year audited net profit continuous negative, or continuous negative, be back after the restatement company shares will be implement in the annual report disclosure after delisting risk warning.
If fushun special steel 2017 negative net worth, according to the Shanghai stock exchange listing rules "regulation, in the most recent fiscal year audited final negative net assets, the company shares will be implement in the annual report disclosure after delisting risk warning.
To protect the rights of minority shareholders, fushun special steel has applied to Shanghai stock exchange for suspension.
As of press time, antai group in shanxi also forecast a loss in 2017 because "the company has not fully recovered the receivables of related parties.""Related party" refers to shanxi xintai steel, the controlling shareholder and the antai group's li anmin.
Zhongyuan special steel is expected to lose 230 million to 270 million yuan in 2017, due to the reasons for the loss of the benefits of employees, the rise in raw material prices and the untimely rise in product sales prices.
The company, which had previously faced debt problems, had not yet released its 2017 earnings forecast and was suspended from trading on January 25.According to xining special steel's statistics for the first nine months of 2017, it lost 161 million yuan.
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