According to incomplete statistics from [Steel Today], since 2023, many iron and steel companies have gone bankrupt, liquidated and reorganized. The details are as follows:
Hohhot Iron & Steel *** bankruptcy liquidation
On February 13, 2023, according to the application of the Wuchuan County Taxation Bureau of the State Administration of Taxation, the Wuchuan County People's Court ruled to accept the bankruptcy liquidation case of Hohhot Iron and Steel.
The company was founded in 2006 and added bankruptcy reorganization information on January 30, 2023. On February 2, 2023, a new tax arrears announcement was added, including real estate tax, vehicle and vessel tax, value-added tax and urban land use tax, with a total amount of more than 10 million.
Kunming Anning Yongchang Material Economic and Trade Group reorganized and recruited reorganization investors
On March 20, 2023, the National Enterprise Bankruptcy and Reorganization Case Information Network released the "Announcement on the Recruitment of Reorganization Investors in the Merger and Reorganization Case of Kunming Anning Yongchang Material Economic and Trade Group", which openly recruits reorganization investors from the public.
Yongchang company is mainly composed of Kunming Anning Yongchang Material Economic and Trade Group, Anning Yongchang Iron and Steel and 29 affiliated companies and subsidiaries, the main business industry is steel production and mineral mining, in the heyday of Yunnan Province was among the best private enterprises.
Kaifeng North China Iron and Steel *** went bankrupt
On April 21, 2023, the People's Court of Lankao County, Henan Province issued a civil ruling, declaring Kaifeng North China Iron and Steel *** bankrupt.
The company was established in January 2005, and its business scope includes steel casting, steel forging, steel plate section steel, cold wire extension, etc.
Yunnan Kunshan Iron and Steel expanded steel furnace *** bankruptcy
Yunnan Kunshan Iron and Steel Expansion Iron and Steel Furnace Assets are insufficient to pay off all due debts and meet the conditions for declaring bankruptcy. In accordance with relevant regulations, the Dongchuan People's Court of Kunming City ruled on May 4, 2023 to declare Yunnan Kunshan Iron and Steel Expansion Steel Furnace *** bankrupt.
The company was founded in December 2005, and the 2022 annual report shows that the company's net profit (consolidated) is -326.3 billion yuan, a blood deficit.
Fujian Chiesi Group went bankrupt
On May 8, 2023, the announcement of the National Enterprise Bankruptcy Case Information Network showed that Fujian Chiesi Group had been declared bankrupt because it could not pay off its due debts and its assets were insufficient to pay off all its debts.
The company was founded in 2003, and according to the announcement, the manager conducted a public auction in May 2023. It involves its Fujian Chiesi Iron and Steel and Fujian Chiesi Stainless Steel and other enterprises.
Xining Special Steel was restructured
On May 23, 2023, Xining Special Steel Group filed an application for reorganization with the court because the company was unable to pay off its due debts and its assets were insufficient to repay all debts. On June 20, 2023, the Intermediate People's Court of Xining City, Qinghai Province, ruled to accept the bankruptcy reorganization case of Xining Special Steel Co., Ltd.
On December 26, 2023, Xining Special Steel Group Co., Ltd. held a management transfer ceremony, and Jianlong Group officially took over the management of Xining Special Steel.
Tianjin Great Seamless Steel Development *** went bankrupt
On June 29, 2023, the manager of Tianjin Seamless Steel Development applied to the Second Intermediate People's Court of Tianjin Seamless Steel Development to declare Tianjin Seamless Steel Development bankrupt on the grounds that Tianjin Seamless Steel Development was unable to pay off its due debts, was insolvent, and no relevant entity had proposed reorganization or reconciliation. On June 30, 2023, the Second Intermediate People's Court of Tianjin City issued an announcement announcing the bankruptcy of Tianjin Da Seamless Steel Development.
Tianjin Da Seamless Steel Development Co., Ltd. was established in 2008, and its business scope includes the development and sales of steel billets, scrap steel, ores, ferroalloys, coke and other steel charges.
Jiangye Special Steel *** bankruptcy liquidation
On September 18, 2023, the Xinyu Intermediate People's Court ruled to accept the bankruptcy liquidation case of Jiangxi Jiangye Special Steel, and decided to apply the simplified trial procedures for trial.
Founded in 2015, the company is mainly engaged in the processing and sales of automotive leaf springs, steel rolling processing and other fields. Xingang Group holds 1161% stake.
Shanxi Chengcai Iron & Steel *** recruits investors for reorganization
On October 19, 2023, the Ali auction platform announced the recruitment of investors for the reorganization of Shanxi Chengcai Iron and Steel.
The company was established in August 2002, and its main business scope includes the processing and sales of steel, steel ingots, steel rolling, pig iron, etc., and has been completely discontinued.
Although the steel industry has experienced a series of bankruptcies, liquidations and reorganizations in the past, it has also prompted the industry to carry out profound adjustments and reforms, and many steel companies have gradually come out of the predicament and achieved sustainable development by improving efficiency, optimizing production structure and strengthening technological innovation. It is believed that with the joint efforts of all parties, the steel industry will usher in a more stable and prosperous future.