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    2002   TW0002002003

CHINA STEEL CORPORATION

(2002)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-10-04
27.60 TWD   +1.47%
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China Steel : Announcement for disposal of the Bulk Carrier on behalf of subsidiary CSE

08/12/2022 | 09:15am EDT
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Today's Information

Provided by: China Steel Corporation
SEQ_NO 1 Date of announcement 2022/08/12 Time of announcement 20:54:47
Subject
 Announcement for disposal of the Bulk Carrier
on behalf of subsidiary CSE
Date of events 2022/08/12 To which item it meets paragraph 20
Statement
1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City): 209,000DWT Bulk Carrier
2.Date of occurrence of the event:2022/08/12
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
 (1)Transaction unit amount: two carriers
 (2)Total transaction price: around NT$ 1,989 million
4.Trading counterparty and its relationship with the Company (if the trading
counterparty is a natural person and furthermore is not a related party of
the Company, the name of the trading counterparty is not required to be
disclosed): CSE Transport Corporation; subsidiary
5.Where the trading counterparty is a related party, announcement shall also
be made of the reason for choosing the related party as trading counterparty
and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of
transfer: For business development
6.Where an owner of the underlying assets within the past five years has
been a related party of the Company, the announcement shall also include the
date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction:NA
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition): Sold at its book value; No profit or loss on disposal
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions: According to the contract
9.The manner of deciding on this transaction (such as invitation to tender,
price comparison, or price negotiation), the reference basis for the
decision on price, and the decision-making unit:
 Manner of deciding on this transaction: price negotiation
 Reference basis for the decision on price:book value
 Decision-making unit: Board of Directors
10.Name of the professional appraisal firm or company and
its appraisal price:NA
11.Name of the professional appraiser:NA
12.Practice certificate number of the professional appraiser:NA
13.The appraisal report has a limited price, specific price,
or special price:NA
14.An appraisal report has not yet been obtained:NA
15.Reason for an appraisal report not being obtained:NA
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:NA
17.Name of the CPA firm:NA
18.Name of the CPA:NA
19.Practice certificate number of the CPA:NA
20.Broker and broker's fee:NA
21.Concrete purpose or use of the acquisition or disposal:
  For business development
22.Any dissenting opinions of directors to the present transaction: None
23.Whether the counterparty of the current transaction is a
related party: Yes
24.Date of the board of directors resolution:2022/08/12
25.Date of ratification by supervisors or approval by
the audit committee:NA
26.The transaction is to acquire a real property or right-of-use
asset from a related party: No
27.The price assessed in accordance with the Article 16 of the
Regulations Governing the Acquisition and Disposal of Assets
by Public Companies:NA
28.Where the above assessed price is lower than the transaction price,
the price assessed in accordance with the Article 17 of the same
regulations:NA
29.Any other matters that need to be specified: None

Disclaimer

CSC - China Steel Corporation published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 13:14:12 UTC.


© Publicnow 2022
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Sales 2022 469 B 14 825 M 14 825 M
Net income 2022 24 669 M 779 M 779 M
Net Debt 2022 145 B 4 575 M 4 575 M
P/E ratio 2022 15,9x
Yield 2022 4,91%
Capitalization 429 B 13 538 M 13 538 M
EV / Sales 2022 1,22x
EV / Sales 2023 1,28x
Nbr of Employees 28 490
Free-Float 72,6%
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Mean consensus UNDERPERFORM
Number of Analysts 9
Last Close Price 27,60 TWD
Average target price 27,41 TWD
Spread / Average Target -0,68%
EPS Revisions
Managers and Directors
Hsi Chin Wang General Manager & Director
Chao Tung Wong Chairman
Jih-Jau Jeng Vice President-Technology Division
I-Chung Huang Vice President-Administration Division
Min Hsiung Hung Independent Director