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    103   HK0103000607

SHOUGANG CENTURY HOLDINGS LIMITED

(103)
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Delayed Hong Kong Stock Exchange  -  03:08:49 2023-02-03 am EST
0.2200 HKD   +1.38%
2022Shougang Century Holdings Limited commences an Equity Buyback Plan for 197,137,982 shares, representing 10% of its issued share capital, representing 10% of its issued share capital, under the authorization approved on June 27, 2022.
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2022Shougang Century Holdings Limited Reports Earnings Results for the Half Year Ended June 30, 2022
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2022Shougang Century Holdings Limited Appoints Mr. Yang Junlin as Deputy Managing Director
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Shougang Concord Century : Century Announces Positive Profit Alert

08/10/2021 | 02:34am EST

HONG KONG, Aug 10, 2021 - (ACN Newswire) - - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce that, based on its preliminary assessment of the unaudited consolidated financial statements of the Group for the six months ended 30 June 2021, the Group expects a profit after tax of not less than HK$45,000,000, at least 25% more than that of HK$35,863,000 for the same period of previous year. Such increase was primarily attributable to the material increase in sales volume of steel cords.

Shougang Century is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group's two large production bases, which are located in Zhejiang Province and Shandong Province, produce more than 200,000 tonnes of steel cords in total every year. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add a further 100,000 tonnes of steel cord production capacity. As the construction progress is satisfactory, the Group is building towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords.

Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said "In the first half of 2021, with the pandemic outbreak generally being contained in China, industries are gradually recovering. Driven by the robust demand on domestic transportation, tyres witnessed a rigid demand, significantly fueling sales of steel cords. As a result, the Group's products have been in short supply. To tap the huge market of steel cords for radial tyres in the domestic market, the Group has been striving to enhance its steel cord production capacity in recent years, with an aim of capturing market opportunities in the fast-growing market, meanwhile consolidating its leading position in the domestic steel cord market. Looking ahead, we endeavour to produce consistently high-quality steel cords for radial tyres, sawing wires and other wire products. Adopting a multi-pronged approach to improve our core competencies, we will leverage the enhanced capacity to satisfy our customers' needs and further expand our customer base, in hopes of creating better returns for our shareholders and investors."

About Shougang Concord Century Holdings Limited

Shougang Concord Century Holdings Limited (0103.HK) is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing more than 200,000 tonnes of steel cords annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. Listed on The Stock Exchange of Hong Kong since April 1992, the Group has a strong shareholder base with substantial shareholders including Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a Fortune 500 company, and its controlled corporations, Bekaert Group and Li Ka Shing Foundation Limited. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.

For more information, please visit: http://www.shougangcentury.com.hk

Copyright 2021 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2021 2 695 M 344 M 344 M
Net income 2021 80,9 M 10,3 M 10,3 M
Net Debt 2021 617 M 78,7 M 78,7 M
P/E ratio 2021 8,39x
Yield 2021 4,35%
Capitalization 434 M 55,3 M 55,3 M
EV / Sales 2020 0,48x
EV / Sales 2021 0,47x
Nbr of Employees 2 345
Free-Float 32,6%
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Fan Rong Su Chairman & Managing Director
Kin Man Yip Independent Non-Executive Director
Yiu Kin Lam Independent Non-Executive Director
Yao Ling Feng Independent Non-Executive Director
Qian Ye Executive Director
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