Predict your next investment

Corporation
INDUSTRIALS | Manufacturing / Industrial Equipment & Component Manufacturing
ty-magnet.com

See what CB Insights has to offer

Investments

1

About Sinosteel Anhui Tianyuan Technology

Sinosteel Anhui Tianyuan Technology (SZ: 002057) focuses on the production of magnetic separation equipment.

Sinosteel Anhui Tianyuan Technology Headquarter Location

Huolishan Avenue South Section No.9

Ma'anshan, Anhui,

China

+86-555-5200200

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Sinosteel Anhui Tianyuan Technology News

Beijing Melds Steel Behemoth Baowu to Troubled Mining Giant

Oct 12, 2020

Beijing Melds Steel Behemoth Baowu to Troubled Mining Giant Baowu Steel’s headquarters in Shanghai on Sept. 14. Leading Chinese steelmaker China Baowu Steel Group Corp. Ltd. will take over a struggling peer that is one of the country’s top producers of mining equipment and related services, in the latest step of a Beijing campaign to consolidate the industry. The move will see Sinosteel Corp. entrusted to Baowu, according to Sunday announcements from two of Sinosteel’s publicly traded units, Sinosteel Engineering & Technology Co. Ltd. and Sinosteel Anhui Tianyuan Technology Co. Ltd. They said Sinosteel, a centrally administered state-owned asset, has yet to learn the exact nature of its entrustment to Baowu. Both Baowu and Sinosteel are among the nation’s largest state-owned enterprises (SOEs) administered from Beijing by the State-owned Assets Supervision and Administration Commission (SASAC). Beijing has embarked on a campaign to whittle down the total number of companies in SASAC’s portfolio through mergers of peers with similar backgrounds. At the same time, it is also consolidating a national steel industry that produces over half the world’s output, but has become highly oversupplied as China’s own spending on infrastructure has slowed in recent years. Baowu itself is a product of a merger four years ago that created a company with capacity to produce 58 million tons of steel annually at that time. It grew further still this year when plans were announced for it to take over two smaller companies, Taiyuan Iron & Steel Group Co. Ltd., and Chongqing Iron & Steel Co. Ltd., giving it total annual capacity of as much as 110 million tons. Meantime, Sinosteel is a specialist in mineral resources, mining equipment and engineering and logistics services for the metallurgical industry. It was established in 1993 as the amalgamation of a wide range of related state-owned assets in the early reform era as China started to try to rationalize its massive state-owned sector. With the addition of Sinosteel, Baowu won’t obtain any new steelmaking capacity, but instead will get more resources to develop its upstream capabilities as it looks to secure steady supplies of iron ore and other material to fuel its operations. But Baowu will also have to contend with a company in weak financial position, the result of an aggressive expansion that left it saddled with huge debt in the first part of the 21st century. Sinosteel’s assets totaled 64.35 billion yuan ($9.6 billion) as of June last year. It had net liabilities of 63.21 billion yuan, leaving it with just 1.14 billion yuan of positive net assets. The net liabilities came from an overaggressive expansion that elevated Sinosteel onto the list of the world’s 500 biggest companies from 2009 to 2011, with more than 180 billion in total assets. But the overly aggressive expansion finally caught up with it in 2014 when it missed some loan repayments. A later investigation would show that through the end of 2014, the group and its 72 subsidiaries had more than 100 billion yuan in debt owed to more than 80 domestic and international banks. One of the company’s few valuable assets is its stake in the Channar Iron Ore Mine in Australia, which was one of China’s first major investments in overseas resources when it started production in 1990 and which Sinosteel co-owns with local giant Rio Tinto PLC. Contact reporter Yang Ge (geyang@caixin.com) Download  our app to receive breaking news alerts and read the news on the go. You've accessed an article available only to subscribers

Sinosteel Anhui Tianyuan Technology Investments

1 Investments

Sinosteel Anhui Tianyuan Technology has made 1 investments. Their latest investment was in Jinfeng Manganese Industry as part of their Corporate Minority on March 3, 2019.

CBI Logo

Sinosteel Anhui Tianyuan Technology Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/23/2019

Corporate Minority

Jinfeng Manganese Industry

$4.84M

Yes

2

Date

3/23/2019

Round

Corporate Minority

Company

Jinfeng Manganese Industry

Amount

$4.84M

New?

Yes

Co-Investors

Sources

2

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.