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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  China Steel Corporation    2002   TW0002002003

CHINA STEEL CORPORATION

(2002)
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China Steel : The 6th meeting of the 17th Board of Directors of China Steel Corporation (CSC) was held on March 23, 2020

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03/25/2020 | 03:38am EDT

The 6thmeeting of the 17thBoard of Directors of China Steel Corporation (CSC) was held on March 23, 2020. Major resolutions were:

1. Appropriation of distributable earnings for 2019
The meeting proposed to appropriate NT$1.4 and NT$0.5 per share for dividends of preferred stocks and common stocks respectively. The above proposal will be submitted to the stockholders' meeting for recognition on June 19, 2020.

2. CSC will invest NT$9.429 billion to launch "Coke Oven Plant and Coke Dry Quenching Facility Renewal Project Stage I". The purpose is to reduce emission of CO2and PMs by revamping facilities and to improve environmental protection. Besides, in order to expand and encourage domestic investment and purchasing, this project is moved up to April 1, 2020 and is scheduled for completion in February 2025.

After the completion of stages of engineering in the future, it will reduce VOCs emission (percentage) of 73 metric tons (63%), PMs of 41 metric tons (56%), and energy consumption of 214 million cal/metric ton coke (10%) per year. In addition, it will increase power generation of 273 million kWh and reduce CO2emission of 146 metric tons per year.

3. Date and venue for CSC's 2020 shareholders' meeting
Date: June 19, 2020 (Friday) 9:00 a.m.
Venue: CSC Auditorium (1, Chung Kang Road, Hsiao Kang, Kaohsiung, Taiwan) Date and place for accepting stockholders' proposals
Date: April 13-22, 2020
Place: China Steel Building (88, Chenggong 2nd Road, Qianzhen, Kaohsiung, Taiwan)

4. Appointment of CSC's Vice President of Production Division
Vice President of Production Division Mr. Chih-Tai Charng will retire on March 31, 2020. The former Assistant Vice President of Production Division Mr. Wen-Gee Lo (currently Chairman of China Steel Chemical Corporation) will return to succeed Mr. Charng as Vice President of Production Division.

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CSC - China Steel Corporation published this content on 25 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2020 08:37:06 UTC

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Sales 2020 326 B 10 888 M 10 888 M
Net income 2020 570 M 19,0 M 19,0 M
Net Debt 2020 201 B 6 709 M 6 709 M
P/E ratio 2020 187x
Yield 2020 1,11%
Capitalization 305 B 10 167 M 10 195 M
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EV / Sales 2020 1,55x
Nbr of Employees 28 490
Free-Float 70,9%
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Number of Analysts 8
Average target price 20,79 TWD
Last Close Price 19,80 TWD
Spread / Highest target 21,2%
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Hsi Chin Wang President & Director
Chao Tung Weng Chairman
Yueh Kun Yang Director & Vice President-Finance Division
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Cheng I Weng Director
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