On January 22, 2023, Zhejiang Baojing Carbon Materials***, a subsidiary of China Baowu, was publicly listed on the Shanghai United Equity Exchange, transferring 51% of the equity of Jilin Baojing Carbon Materials*** at a reserve price of 124.98 million yuan, the details are as follows:
Basic information about the subject
Name of the target enterprise:Jilin Baojing carbon material***
Registered capital:$20,000.
Economy Type:State-controlled enterprises.
Business Scale:Medium.
Shareholding structure of the target enterprise:Zhejiang Baojing Carbon Materials*** holds 51% of the shares; Jilin Chemical Fiber Co., Ltd. holds 49% of the shares
The industry to which the target belongs:Chemical fiber manufacturing.
Basic information of the transferor
Name of Transferor:Zhejiang Baojing carbon material***
Economy Type:State-controlled enterprises.
Proportion of property (shares) to be transferred:
Name of the group or administration to which it belongs:China Baowu Iron & Steel Group***
According to the information, Jilin Baojing Carbon Materials is a carbon fiber product research and development company, covering carbon fiber manufacturing, composite material technology research and development and composite material manufacturing, providing users with aramid fiber, carbon fiber basic materials, high-strength carbon fiber and carbon fiber cloth and other products, which are used in aerospace, rail transit, general aviation, ship engineering and other fields.
According to the company's financial report, as of December 31, 2023, although the company's operating income reached 14,575220,000 yuan, but the total profit and net profit were negative, -10,543810,000 yuan, and at the same time, the company's total liabilities are as high as 65,860310,000 yuan.
As a giant in the domestic steel industry, China Baowu's decision-making and trends have been attracting much attention. This equity transfer will undoubtedly have a far-reaching impact on the business development and future strategy of Jilin Baojing Carbon Materials. It is believed that the addition of new investors may provide new opportunities and impetus for the sustainable development of enterprises.