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    600019   CNE0000015R4

BAOSHAN IRON & STEEL CO., LTD.

(600019)
  Report
End-of-day quote Shanghai Stock Exchange  -  2022-09-29
5.260 CNY   +1.54%
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Shanghai's Baoshan district orders lockdown on some steel warehouses

07/27/2022 | 07:47am EDT

BEIJING (Reuters) - A district in China's financial hub of Shanghai has ordered a three-day lockdown of some of its steel warehouses from July 26 after a residential neighborhood in the district was classified as high risk following the detection of a coronavirus case there.

Three out of six warehouses in the Baoshan district that Reuters contacted said they were required to enter a "closed-loop" system with no staff or materials allowed in or out of the warehouses. Operations inside the warehouses, however, are running normally.

"It's like quarantine, we are not allowed to leave the warehouses. Steel can't be transported in or out, but we still work and we have food stored in advance," a worker at one of the warehouses in Baoshan district told Reuters, who did not identify himself as he was not authorized to speak to the press.

The other three warehouses said their goods were able to be transported as usual, but a negative COVID test result within 24 hours is required for people to enter or leave the premises.

A spokesman for Baoshan Iron & Steel Co. Ltd, the listed unit of the world's top steelmaker China Baowu Steel Group, told Reuters on Wednesday they had not received any guidance to lock down their warehouses in Shanghai, and all operations were normal.

Shanghai, China's most populous city, lifted a harsh two-month lockdown in June but has registered double-digits daily cases in recent weeks. It has since launched testing drives in some of its districts, and now requires residents to continue testing at least once a week until the end of August.

The city last reported 14 new domestically transmitted asymptomatic coronavirus cases and two local symptomatic cases for July 26.

China's number of local daily infections is small compared with other parts of the world, but the world's second largest economy is adamant about implementing its zero COVID policy of eliminating outbreaks as soon as they emerge.

(Reporting by Siyi Liu in Beijing, Emily Chow in Kuala Lumpur and Beijing Newsroom; Editing by Chizu Nomiyama)


© Reuters 2022
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Financials
Sales 2022 348 B 48 914 M 48 914 M
Net income 2022 18 484 M 2 598 M 2 598 M
Net Debt 2022 6 538 M 919 M 919 M
P/E ratio 2022 6,35x
Yield 2022 7,57%
Capitalization 117 B 16 382 M 16 382 M
EV / Sales 2022 0,35x
EV / Sales 2023 0,31x
Nbr of Employees 45 405
Free-Float 34,2%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 5,26 CNY
Average target price 7,49 CNY
Spread / Average Target 42,4%
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Managers and Directors
Ji Xin Zou Chairman
Yong Hong Zhu Chairman-Supervisory Board
Tian Yong Independent Director
Xiong Wen Lu Independent Non-Executive Director
Han Sheng Yu Member-Supervisory Board