The replacement of assets from brewing up to now after 21 month's time, by the the Shijingshan main production line shutdown affected Shougang shares from 349.67 million yuan net profit in 2010 reduced to 11.78 million yuan in 2011, and in the first quarter of this yearresulting in a huge loss of 150.69 million yuan.
 
If not as soon as possible to complete the replacement of assets, Shougang shares its only one of the two operations, the first wire factory discontinued after this year, Shougang shares in the business into a more difficult situation.
 
According to the State Council approved the "Beijing city overall planning (2004-2020) and the National Development and Reform Commission on the Shougang to implement the relocation, structural adjustment and approval of the environmental governance program" accelerate the implementation of Shougang and other areas of traditional industrial relocation and adjustment of industrial structure , as well as the requirements of the end of 2010, Shougang Beijing Shijingshan District, smelting, hot rolling capacity all the cut ", located in the Shijingshan District, Beijing Shougang shares the main iron and steel process was discontinued in late 2010.
 
The cut-off impact, Shougang shares in an existing iron and steel production operations significantly reduced, leaving only the first wire rod plant (about 500,000 tons / year of hot rolled steel production capacity) and Beijing Shougang Cold-Rolled Sheet Co., Ltd. (about 1.7 million tons / year cold-rolled sheet production capacity). The first wire factory according to the requirements of the overall planning of the capital city, also will be discontinued this year. Shougang shares acceleration proposal and hope to complete the main reason for this restructuring.
 
Once the asset replacement program is passed, under the Shougang Group steel company Shougang to move all of the relevant assets into the listed company, the main iron process was halted and the temporary impact of iron and steel production and business activities to the company will then disappear, Shougang shares not only profitability, competitiveness of listed companies will also receive a comprehensive manner.



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