Contents
Section I | Definitions ........................................................... | 2 |
Section II | Company Introduction and Major Financial Indicators . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 |
Section III | ReportoftheBoard .................................................... | 9 |
Section IV | Corporate Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 51 |
Section V | Environmental and Social Responsibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 90 |
Section VI | Significant Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 98 |
Section VII | Movements in Share Capital and Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 115 |
121 |
Section VIII Financial Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Documents available for inspection | Financial statements signed and sealed by the Company's legal representative, chief accountant and head of Accounting Department. Original copy of the audit report, sealed by Ernst & Young Hua Ming LLP and signed and sealed by Ms. Guo Jing and Mr. Gong Wei, certified public accountants in the PRC. Original copies of all documents and announcements of the Company disclosed in Shanghai Securities. Annual report announced on the website of the Hong Kong Stock Exchange. The Articles of Association of the Company. |
IMPORTANT NOTICE
I. The board of directors (the "Board"), the supervisory committee, the directors, the supervisors and senior management of the Company warrant that there are no false representations or misleading statements contained in, or material omissions from this annual report; and jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the information contained in this annual report.
II. All directors attended the board meeting.
III. Ernst & Young Hua Ming LLP issued a standard unqualified audit opinion on the annual financial statements of the Company.
IV. Mr. Ding Yi, representative of the Company, Mr. Mao Zhanhong, person overseeing the accounting operations, and Mr. Xing Qunli, head of Accounting Department, made representations in respect of the truthfulness, accuracy and completeness of the financial statements contained in the annual report.
V. Profit distribution plan or plan for the capitalisation of capital reserve during the Reporting Period proposed by the Board
The Board suggests 2021 final dividend of RMB0.35 per share (tax included) shall be distributed and retained earnings will be carried forward to the year of 2022. No capital reserve shall be transferred to share capital. The distribution plan is going to be submitted to the Annual General Meeting for approval.
VI. Risk relating to forward-looking statements
The report analyses major risks faced by the Company. Please refer to "(5) Potential risks" of "VII. Discussion and Analysis on the Future Development of the Company" of "Report of the Board" in Section III for details. Forward-looking statements such as development strategy, future business plans contained in this report do not constitute any substantive commitments to investors by the Company. Investors should be aware of the relevant risks.
VII. During the Reporting Period, no appropriation of fund on a non-operating basis by the controlling shareholder or its related parties was found in the Company
VIII. During the Reporting Period, there is no violation of regulations, decisions or procedures in relation to provisions of external guarantees
IX. During the Reporting Period, the majority of the Directors cannot warrant the authenticity, accuracy and completeness of the information contained in the annual report does not exist.
X. Significant risk warning
The Company has no significant risk that needs to draw special attention of investors.
XI. Other
This report is prepared in both Chinese and English. In the event of any discrepancy between the Chinese and English versions, please subject to Chinese text.
Section IDefinitions
In this report, unless the context otherwise requires, the following terms have the following meanings:
DEFINITIONS OF COMMON TERMS
"Company" or | means | Maanshan Iron & Steel Company Limited |
"the Company" or | ||
"Magang Stock" | ||
The Group | means | the Company and its subsidiaries |
China Baowu or Baowu | means | China Baowu Steel Group Corporation Limited, the controlling |
shareholder of the Holding | ||
Baosteel Hong Kong | means | Baosteel Hong Kong Investment Company Limited, a wholly-owned |
Investment | subsidiary of China Baowu | |
The Holding | means | Magang (Group) Holding Co., Limited and the direct controlling |
shareholder of the Company | ||
The General Meeting | means | the Shareholders' General Meeting of the Company |
The Board | means | the board of directors of the Company |
Directors | means | the Directors of the Company |
Supervisory Committee | means | the supervisory committee of the Company |
Supervisors | means | the supervisors of the Company |
Senior Management | means | the senior management of the Company |
Hong Kong Stock | means | the Stock Exchange of Hong Kong Limited |
Exchange | ||
SSE | means | the Shanghai Stock Exchange |
A Shares | means | a nominal value of RMB1.00 per share, which are listed on the SSE |
H Shares | means | a nominal value of RMB1.00 per share, which are listed on the Hong |
Kong Stock Exchange | ||
PRC | means | the People's Republic of China |
Hong Kong | means | the Hong Kong Special Administrative Region |
Maanshan Iron & Steel Company Limited 2021 Annual Report
Section IDefinitions (Continued)
RMB | means | |
CSRC | means | the China Securities Regulatory Commission |
CISA | means | China Iron and Steel Association |
the Articles of | means | The articles of association of Maanshan Iron and Steel Company |
Association | Limited | |
Changjiang Steel | means | Anhui Changjiang Steel Co., Ltd., a controlling subsidiary of the |
Company | ||
Ma Steel (Hefei) | means | Ma Steel (Hefei) Iron & Steel Co., Ltd., a controlling subsidiary of the |
Company | ||
Magang Finance | means | Magang Group Finance Co. Ltd., a controlling subsidiary of the |
Company | ||
Magang Transportation | means | Baowu Group Magang Rail Transportation Material Technology Co., |
Material | Ltd., a wholly-owned subsidiary of the Holding | |
MG-VALDUNES | means | MG-VALDUNES S.A.S, a wholly-owned subsidiary of the Company |
Ma Steel (Hong Kong) | means | Ma Steel (Hong Kong) Co., Ltd., a wholly-owned subsidiary of the |
Company | ||
Environmental Protection | means | Anhui Magang Chemical & Energy Technology Co., Ltd., a |
Company | controlling subsidiary of Baowu Water Technology Co., Ltd. | |
Ouyeel Blockchain | means | Formerly known as Maanshan Magang Scrap Steel Co., Ltd., |
Finance | renamed as Ouyeel Blockchain Finance and Metal Recycling | |
Resources Co., Ltd. in 2020, a controlling subsidiary of the Holding | ||
Magang K. Wah | means | Anhui Magang K. Wah New Building Materials Co. Ltd., a controlling |
subsidiary of the Holding | ||
Magang Chemicals & | means | Anhui Magang Chemical & Energy Technology Co., Ltd., a |
Energy | controlling subsidiary of the Holding | |
Magang Investment | means | Magang Group Investment Ltd., a wholly-owned subsidiary of the |
Holding | ||
Jinma Energy | means | Henan Jinma Energy Co. Ltd., a joint venture of the Company |
Auditor, Ernst & Young | means | Ernst & Young Hua Ming LLP |
Reporting Period | means | From 1 January 2021 to 31 December 2021 |
Renminbi Yuan
Section II Company Introduction and Major Financial Indicators
1. | |
2. | |
3. | BASIC INFORMATION |
Registered address | No. 8 Jiu Hua Xi Road, Maanshan City, Anhui Province, the PRC |
Historical changes of the | January 1993 to June 2009, No. 8 Hong Qi Zhong Road, |
Company's registered address | Maanshan City, Anhui Province; |
June 2009 to now, No. 8 Jiu Hua Xi Road, Maanshan City, Anhui | |
Province | |
Office address | No. 8 Jiu Hua Xi Road, Maanshan City, Anhui Province, the PRC |
Postal code of the registered | 243003 |
address | |
The Company's website | www.magang.com.cn(A Share); |
www.magang.com.hk(H Share) | |
Email address | mggf@baowugroup.com |
4. |
Secretary of the board of directors,
COMPANY PROFILE | |
Chinese name of the Company | ৵ቧʆ፻᚛ٰ΅Ϟࠢʮ̡ |
Chinese short name of the Company | ৵፻ٰ΅ |
English name of the Company | Maanshan Iron & Steel Company Limited |
English short name of the Company | MAS C.L. |
Legal representative of the Company | Ding Yi |
CONTACT PERSON |
joint company secretary | Joint company secretary | |
Name | He Hongyun | Rebecca Chiu |
Office address | No. 8 Jiu Hua Xi Road, Maanshan City, | Room 1204-06, 12/F,The Hong Kong |
Anhui Province, the PRC | Chinese Bank Building, | |
61 Des Voeux Road Central, Central, | ||
Hong Kong, PRC | ||
Telephone | 86-555-2888158/2875251 | (852)21552649 |
Fax | 86-555-2887284 | (852)21559568 |
Email address | mggf@baowugroup.com | rebeccachiu@chiuandco.com |
INFORMATION DISCLOSURE AND LOCATION FOR INSPECTION
Name of newspaper and website designated for annual report disclosure
Shanghai Securities NewsStock exchange website designated by CSRC forwww.sse.com.cn; www.hkex.com.hk annual report disclosure
Location for inspection of annual report of the The secretariat office of the Board of Maanshan
Company Iron & Steel Company Limited
Maanshan Iron & Steel Company Limited
2021 Annual Report
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Maanshan Iron & Steel Company Limited published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 13:38:03 UTC.