Chief International

Overall scoring
80
Popularity index
16196

Chief's international brand introduction

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A Hong Kong-listed company, specializing in domestic imported iron ore trade, specializing in hard coking coal mining and sales, radial tire manufacturing, copper and brass material processing and trading

Shougang International Enterprises Limited is currently principally engaged in the trading of iron ore imported from the PRC, and also holds two Hong Kong-listed associates, Shougang Fushan Resources Group Co., Ltd. (Shougang Resources) and Shougang Baojia Group Limited, which are engaged in the mining and sales of hard coking coal in the PRC, as well as the processing and trading of steel cord for the manufacture of radial tires, cutting wire, copper and brass materials.

In order to enhance its investment in the upstream business, the Group has entered into a long-term iron ore offtake agreement with Mount Gibson Iron Limited (Mt. Gibson), a listed company in Australia, and owns approximately 1.46 billion ordinary shares (equivalent to approximately 27.6%) of Shougang Resources, one of the largest hard coking coal producers in China, which provide a sound basis for the Group's earnings.

The Company has been listed on the Main Board of the Hong Kong Stock Exchange since 1991 and was one of the first red chips to be listed in Hong Kong. The company is steadfast and confident in delivering returns to shareholders.

The substantial shareholder of the Company is Shougang Holdings (Hong Kong) Co., Ltd., which holds approximately 48% of the equity of the Company, which is a wholly-owned subsidiary of Shougang Corporation. Shougang Corporation is a state-owned enterprise supervised by the Beijing State-owned Assets Supervision and Administration Commission.


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