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Stainless steel stainless steel pipe with a unique corrosion resistance, it can react with oxidants to form a layer of thin, dense oxide film, used to stop the oxidation reaction into further. For other types of metal pipe, almost no passivation of the function, and this is stainless steel stainless steel pipes and one of the main pieces of pipe materials, corrosion resistance than the general metal pipe.

    Rust stainless steel pipes and pieces of pipe materials is recognized that health is widely used in food processing, transportation the Health fittings, including the pharmaceutical industry, beverage, brewing. The superior material properties of stainless steel stainless steel pipe fittings, pipe fittings, to reduce transportation costs, will not scale in the long-term transmission, smooth wall, while conveying the low energy consumption is the lowest by far the transportation costs of pipe materials.

A stainless steel stainless steel pipes and pieces of pipe classification and use
sanitary fittings

1 stainless steel stainless steel pipe fittings pipe fittings Category

    Stainless steel stainless steel pipes and a pieces of pipe are pipe fittings, it is so called pipe of stainless steel stainless steel pipe fittings, which includes: stainless steel stainless steel pipe elbow made by the material of the stainless steel stainless steel pipe fittings , pieces of three links of stainless steel tube stainless steel tubing, pipe fittings of stainless steel stainless steel Stone, stainless steel pipe fittings of stainless steel diameter pipe, stainless steel stainless steel pipe caps and other

    Connection methods can be divided into the socket type stainless steel stainless steel pipe fittings, pipe fittings, threaded stainless steel stainless steel pipes and pipe fittings of stainless steel stainless steel pipe fittings, flanges and welded stainless steel stainless steel pipe fittings, pipe fittings four categories . Stainless steel stainless steel pipe elbow for the turning of the pipe; flange for tube and pipe interconnected parts connected to the pipe ends, stainless steel stainless steel pipe fittings, tees for the pooling of three tubes; Stone pipe of stainless steel stainless steel pipe fittings for the four tubes pooling; stainless steel stainless steel pipe diameter pipe for the connection of two tubes of different diameters.

2, stainless steel stainless steel pipe fittings, pipe usesanitary pump

    Pieces of tube paint or oxidation-resistant metal (eg, zinc, nickel, and chromium) plating of stainless steel pipe stainless steel tube to ensure that carbon stainless steel pipe surface, but as people know, this protection is only a thin film. If the protective layer is damaged, the following stainless steel pipe fittings began to corrosion resistance, air, steam, water and other weak corrosive medium and acid, alkali, salt and other chemical etching medium corrosion of stainless steel pipe fittings.

    Stainless steel stainless steel pipes and pieces of pipe with the most pressure vessels and chemical aspects. Refinery equipment factory there is high demand. Others, such as chemical, food, beverage, pharmaceutical and other industries can be applied. Its main widely used in petroleum, chemical, medical, food, light industry, machinery and instruments, such as industrial conveyor Health fittings and mechanical structural components.

Two pipe fittings, pipe fittings, stainless steel stainless steel features

1, life

    Stainless steel stainless steel pipe fittings, pipes have the longest life. From foreign stainless steel stainless steel pipe fittings, usage analysis, stainless steel stainless steel pipes and pieces of water pipe service life of up to 100 years, at least 70 years, as long as the life of the building.

2, the corrosion resistance

One of the stainless steel stainless steel pipe fittings, pipe most prominent advantage is its excellent corrosion resistance in a variety of pipe is the best. Stainless steel stainless steel pipe fittings and oxidant inactivation occurs in the surface layer of tough, dense protective film of chromium-rich oxide Dr2O3, effectively prevent the further oxidation occurred. And other metal tubing, such as galvanized pipes, brass passivation ability is very small, brass corrosion resistance of galvanized pipe is far less than the stainless steel stainless steel pipe fittings, pipe of the key reasons.stainless steel pipe fittings

Stainless steel stainless steel pipe fittings do not like carbon stainless steel pipe fittings, as occurred uniform corrosion, when used without protective coating; stainless steel stainless steel pipe fittings pipes, the chemical composition of the water there is no limit, because the stainless steel stainless steel pipe, tube have good corrosion resistance in oxygen content, temperature, PH and hardness of the water; stainless steel stainless steel pipe fittings, pipes able to withstand high flow rates, flow rate greater than 40 m / sec, remains very low corrosion rate does not exceed 0.003 mm / year, particularly for high-rise water supply.

3, heat and insulation

The thermal conductivity of stainless steel stainless steel pipe fittings tube brass 1/25, 1/4 of ordinary stainless steel pipe fittings, pipe, particularly suitable for conveying hot water. The water industry the most commonly used stainless steel stainless steel pipe fittings 304 and 316 stainless steel stainless steel pipe fittings, they are able to meet the vast majority of water treatment and transmission conditions at.

4, the intensity

    The strength of the material determines whether the sturdy pipes crashworthiness, safety and reliability. And safe and reliable construction to water the most important requirements. By the external impact, a very small possibility of stainless steel stainless steel pipe fittings, pipes leaking. High-rise water supply system pressure is generally greater than 0.6Mpa; higher the pipe pressure. Thin-walled stainless steel pipe stainless steel pipe due to the excellent mechanical properties, able to withstand high water pressure up to 10Mpa above, especially for high-rise water supply.

How to Tell stainless steel stainless steel pipe fittings pipe fittings

A comparison project of the front teeth and teeth from the:

2, the standard human eye to see the front teeth sharp teeth from the uniform and bright.

Touch: the front teeth smooth, specification of the depth of processing, the core wall is uniform flow pieces unimpeded.

4, before leaving the factory after mechanical processing, surface folder debris.

5, the carbon content is low, corrosion, oxidation resistance, high toughness, compression and strong.

6, the roughness, the front teeth is unfavorable, and the thick, non-standard thread pitch, the front teeth, damage, easy to leakage

7, the thread can not see shiny, dark feel.

8 core crooked, uneven wall thickness of thin, easily blocked after the fluid.

9, roughness, surface unhandled susceptible to oxidation

10, the high carbon content does not decay, poor toughness, tensile strength is weak.

Four stainless steel stainless steel pipes and pipe installation tips

Stainless steel stainless steel pipe fittings, pipe installation tips 9 Notes:

1 stainless steel stainless steel pipe fittings, material lifting, can not be in direct contact with other metals, non-metallic materials should be added to the cushion of wood or rubber sheet.

2, pipe cutting not allowed to cut with ordinary grinding wheel should be used stainless steel stainless steel pipe fittings dedicated grinding wheel or plasma cutting.

Stainless steel stainless steel pipe fittings, pipes and tack welding, weld the inside should be filled with argon protection.

4 from the arc and the closing arc, the arc using the reflow method, Crater fill the crater. Arc must be completed in the groove, prohibited in sanitary pipe fittings of the base metal surface arcing and arc. If the arc Crater discovered pores, cracks and other defects should be promptly clean.

5, stainless steel pipe stainless steel tube pieces sanitation pipe, pipe fittings and stainless steel stainless steel pipe fittings, Sanitary pipe, fittings and non-stainless steel stainless steel pipe tube material health of pipe fittings, pipe connections, welded butt joint fight the end of welding the front tube and the cavity filled with argon protection in order to carry out gas tungsten arc welding.

6, multi-channel multi-pass welding arc to close the the arc Department should be staggered.

7, continuous welding of stainless steel stainless steel pipe material layer temperature does not exceed 60 ℃.

8, sanitary fittings to connect to the weld at the weld after welding, pickling and passivation.

9, stainless steel pipe stainless steel pipe fittings, pipe fittings, hydrostatic test water temperature and water quality requirements, the water temperature shall not be less than 5 ° C; the chloride ion content in water shall not be greater than 25Pmm.

Editor s Note: Yesterday, according to the Safety Committee of Jiangsu Province informed the morning of the 23rd Baosteel Group Shanghai Meishan Iron & Steel Co. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people, 7 people were injured, the injured condition is basically stable. "The operation of safety norms is certainly not enough to put in place. Although the steel industry is a high-risk industries, but serious incidents such as this should be avoided." Yesterday, deputy director of the Metallurgical Industry Economic Development Research Center, Liu Haimin said in the interview with this reporter. Meanwhile, he also pointed out that the accident of Meishan Iron and Steel Baosteel internal culture, management is still not well related to integration.

    The Baosteel accident operation of the safety norms in place of steel enterprises need more emphasis on management

    Since the beginning of this year, the steel industry a major accident frequently, has killed nearly 20 people were killed

    Yesterday, according to the Safety Committee of Jiangsu Province Bulletin 23 on the morning of Baosteel Group Shanghai Meishan Iron and Steel Co., Ltd. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people were killed and seven injured. injured condition is basically stable.sanitary fittings

    Xilin Steel Group, Harbin Cheng steel carbon monoxide poisoning, Anshan Iron and steel foundries molten steel spray explosion accident after year since with the iron and steel industry has undergone a serious security incidents.

    "The operation of safety norms is certainly not enough to put in place. Although the steel industry is a high-risk industries, but serious incidents such as this should be avoided." Yesterday, deputy director of the Metallurgical Industry Economic Development Research Center, Liu Haimin said in the interview with this reporter. Meanwhile, he also pointed out that the accident of Meishan Iron and Steel Baosteel internal culture, management is still not well related to integration.

    Steel enterprises in a major accident-prone

    It is reported that, after initial analysis showed that the Meishan Steel, the accident occurred because: construction workers do not understand the return pipe back to memory in the case of gas pressure station to the gas tank return pipe blind flange at the flange bolts removed, resulting in Blind plate down, resulting in the return pipe back to the gas intrusion into the gas tank, causing the gas poisoning of the gas cabinet operations personnel. Meishan Iron and Steel shares is a subsidiary of Baosteel Group in Nanjing, with an annual output of 3 million tons of steel production capacity.

    The localization of management principles in accordance with the safe production, the Safety Committee of Jiangsu Province under the larger accident investigation supervise the handling of way, track management, accident investigation and responsibilities to be investigated seriously dealt with according to law of the relevant persons responsible for plugging loopholes in management.

    In Baosteel the major casualties of the first three days, with steel central rate of the Anshan Iron and Steel Group has just taken place with the big casualty: 36 points on February 20, 2009 23, Anshan Iron and Steel Group restructuring of shareholding enterprises Angang Heavy Machinery Co. liability company cast steel factory spray explosion accident, 13 people were killed and 17 others were injured.

    Not only that, the further back in January of this year, 16 21, 30 minutes or so, Xilin Iron and Steel Group Cheng Iron & Steel Co., Ltd. is a carbon monoxide leak, resulting in the mass poisoning of 32 people, and has resulted in the death of one person; October 5, 2011 11:45, Nanganggufen (600 282) Ironworks No. 5 blast furnace in the shutdown process, molten iron outflow of the accident, a total of 12 people were killed and one seriously injured and direct economic losses of 12.08 million yuan.

    Busy mergers should pay attention to the Management Integration

    It is noteworthy that, with the previous burst of security incidents and the steel prices are mostly private enterprises in different recent Instead, large state-owned leading steel prices move frequently on security issues.

    "Management is not strict, safe operation is certainly not in accordance with the rules and regulations." Liu Haimin pointed out that these large steel enterprises have a relatively complete set of security system, but the question is, "How many years did the accident may be thinking of paralysis."

    It is worth mentioning, Baosteel has been in the industry is considered to be the pacesetter of the domestic steel industry innovation and production safety, the AISC serious accidents are still powerful reverberations, Meishan Steel s suddenly followed by exposed to major security incidents so that the industry quite for emotion.

    The data show that the Meishan Steel is located in the southwest suburbs of Nanjing, 1998 with Baosteel on steel with the consolidation and reorganization, Baosteel (600019) one of the core assets, the annual steel capacity of 3 million tons.

    Meishan Iron and Steel in the culture, management, and wage levels with the main part of Baosteel in Shanghai or a difference. "Liu Haimin opinion, as opposed to in recent years" staking "to promote the speed of industry mergers, the leading domestic steel prices still attach importance to their management after the merger integration is not enough.

    Baoshan Iron and Steel "is actually in the merger and reorganization in the country or doing good is a sample of enterprises with advanced experience." Said Liu Haimin, Meishan Steel accident but this still can be seen, Baosteel within the culture, management is still not fully integration, which "in the coming period is difficult to quickly achieve".

    The Baosteel pricing the sale of stainless steel assets reduced losses the income Chaobaiyi (Figure)

    Baoshan Iron & Steel

    Baosteel (600019) will be stripped of stainless steel and special steel business assets, not only to avoid a loss of 1.54 billion yuan, also receive a one-time gain of approximately 9.58 billion yuan

    Baosteel announced that the company has priced the sale of its stainless steel and special steel business assets, and then set to be considered by the major shareholder of Baosteel Group. Board of Directors expects that this will optimize the assets of the company structure, improve the efficiency of asset management, and then focus on the most competitive of the carbon steel business, and ultimately improve the overall profitability.

    Baosteel mid-December last year, intends to controlling shareholders to sell stainless steel, the steel division of assets, assessment of the assets through intermediaries, is now officially launched after the refinement of the sale of assets.

    In the relative cost disadvantage due to energy sources, process layout, Baosteel s stainless steel and special steel business profitability for many years at a low level, although the stainless steel business gross margin barely positive, but the steel business is basically at the The gross margin loss of status, profitability was significantly weaker than the carbon steel business. In fact, stainless steel and special steel business over the years the performance of poor phenomenon is not unique to Baosteel; Currently, the global stainless steel industry generally in a weak state of profitability, such as the German steel manufacturer ThyssenKrupp Group has decided in 2012 The January announcement to be € 2.7 billion sale of its stainless steel business Inoxum.

    Baosteel s stripping loss of business, the speculation that at least the performance of the company will bring three positive: First, eliminate the loss of stainless steel and special steel business to the negative impact, and enhance the company s profitability; According to the company said, expected to stainless steel and special steel sale of assets will reduce the loss of 1.54 billion yuan. Second, the availability of a one-time asset sale proceeds; not take into account taxes, the assessed value-added assets after the sale, will make Baosteel the disposable income of about 9.58 billion yuan. Third, reduce the financial costs; consider the one-time cash, installment payments and the cost of corporate finance, fund operational efficiency and installment interest level of factors is expected the sale of assets that reduce Baosteel financial cost of about 1.4 billion million. As a result, the company through reduced losses, increase the carrying amount of cash flow and reduce financial costs, the total benefit will be more than 12.5 billion yuan.

    Baosteel most competitive products for common carbon cold-rolled sheet and hot rolled sheet, the obvious advantages of high-end, and strong profitability. Guoxin Securities and other agencies believe that Baosteel to sell stainless steel, special steel business, making it more focused on the carbon steel business already has a strong competitive advantage, the company s long-term development.

    Baosteel gas leak caused by the 6 dead after delete Angang accident press releaseclamp ferrule

    One north and one south, two of China s largest steel central enterprise of Anshan Iron and Steel Group and Baosteel Group three days apart, and the casualties have occurred in the production process. A serious casualties, a major casualty.

    According to the Nanjing Municipal Government on the 24th informed Meishan Iron & Steel Co. (Baosteel (600019) under the said by Meishan Iron and Steel "), gas poisoning accident three seriously wounded died, the accident killed six people, there are seven people continue in the hospital for treatment, the condition is basically stable.

    At 11:50 on the 23rd, the Meishan Steel is located in Nanjing Yuhuatai gas leakage occurs, resulting in converter gas intrusion into the gas tank and cause the cabinet to the ongoing technological transformation of the overhaul of the construction of 13 gas poisoning of workers, three of them the same day rescue died.

    3 days ago on the 20th, the Anshan Iron and Steel Group Corporation in the serious injury or death, a total of 13 people were killed and 17 injured (six seriously injured). After the accident, the Baosteel Group website in 23 to one to learn from the lessons of the Anshan Iron and spray the burst accident, to strengthen the safety production of press releases. Group Safety Supervision Department, the Baosteel security in the first time communicated to the relevant units notice of the accident information on how to made specific plans for Kam, strengthen production safety, strengthen the prevention of accidents, Baosteel Group, said at the time. After receiving the notice, the Bayi Iron & Steel (600 581), Ningbo Iron and Steel, Shaoguan Iron & Steel, Baosteel headquarters, and the stainless steel division, the Special Steel Division Steel Pipe Steel Division, Meishan Iron and Steel Company, Baosteel engineering units to respond quickly, one after another for its own operations, embarked on a hidden danger and accident prevention.

    However, the same day, the casualties. That a subsidiary of casualty accidents, Baosteel Group, the press releases are quickly removed.

    Meishan Iron and Steel is a subsidiary of Baosteel in Nanjing, but also Baosteel is the core of one of the assets. Since the consolidation and reorganization in 1998, Baoshan Iron and Steel on Steel, Meishan, Meishan Iron and Steel Company, through the implementation of the blast furnace, steelmaking, hot rolling three technical transformation projects, has been with an annual output of 3 million tons of steel production capacity.

    It is noteworthy that, Baosteel has been considered the domestic steel industry pacesetter in innovation and production safety.

    According to the statistics of the China Steel Industry Association, 2011, the national focus on the total profits of the large and medium-sized steel enterprises was 87.53 billion yuan, Baosteel Group, a total profit of 18.7 billion yuan, accounting for 21.37% of the total profit of the national key large and medium-sized steel enterprises.

    However, Baosteel also failed in the safe production to avoid casualties. A few years ago, Baosteel is a casualty. March 3, 2008, Special Steel Branch of Baosteel steel pickling heat treatment plant with nitrogen asphyxiation incidents, resulting in two deaths and three injuries.

    The sale of land suspected the fire sale the Baosteel disposal of assets hidden cost tens of billions?

    Baosteel (600019) has announced that the intends to controlling shareholder of Baosteel Group to sell stainless steel, special steel division of assets, is expected involving the assets of the carrying value will not exceed 20% of the latest audited total assets, the company will employ intermediaries to assess the above assets, and further refinement of the asset sale program. Was in 2005, additional fund-raising to the acquisition of the latter one of the core projects, but now want to sell. Some analysts believe that the divestitures negative than positive, such as improper disposal or cause a huge hidden cost.

    1 intends to dispose of land assets suspected or cheapstainless steel pipe fittings

    For Baosteel intends stainless steel, special steel, two division was sold to the controlling shareholder of Baosteel Group, the many investors worried about the transfer process, the two land assets of the Division of fear is the original purchase price of divestiture or a small amount of premium stripped lead to the recessive loss of assets of listed companies. With this issue, the reporter visited the site of the two divisions are regional, and interviews with the stakeholders of the real estate sector, trying to be as objective as possible, accurately restore Baosteel holds two pieces of land the true value of the assets.

    Two plant area of ​​nearly 70,000 square kilometers

    Baosteel Stainless Steel Division is located at Changjiang Road, Baoshan District, Shanghai, formerly known as the Shanghai Iron and Steel Plant, covers an area of ​​3.43 square kilometers; Baosteel Special Steel Division at Tongji Road, formerly known as the Shanghai Iron and Steel Wuchang, covers an area of ​​3.49 square kilometers. Two plant covers an area of ​​nearly seven square kilometers. In November 1998, the two plants after the restructuring, Baosteel subordinate enterprises.

    The reporter visited the site found, in addition to the considerable area of ​​land, the geographic location of the two sites is also quite good. The Special Steel Division site close to the Shanghai Rail Transit Line, Fisheries Road and Po Yang Road, rail delivery sites in close proximity. The stainless steel division, though far from orbit intersecting lines, but closer to the central area of ​​Shanghai. The reporter tried to enter the factory interview, security interception but was unable to make the trip.

    The head of DTZ Debenham Tie Leung Ministry of Industry Eastern Region Director Su Zhiyuan said in an interview with reporters, the price of industrial land by the access industry, geography, and time to market and other external constraints are more difficult to accurately calculate the value of the concrete block which listed on the stock market before and price. See recent transactions from DTZ Debenham Tie Leung, the recent Shanghai industrial land transactions Fengxian, Port Metro and other remote areas, the average price of about 500,000 yuan per mu. Based on experience, mature industrial development, Baoshan District, the average price of industrial land in land scarce could reach twice the above-mentioned regions, the price of the prime locations would be even higher. By this calculation, Baosteel have two of the end of the value of land tenure in more than 10 billion yuan.

    Land development worth more than $ 50 billion

    Guarantee the value of the above, these two pieces of land continue to be calculated as the industrial land; Baosteel factory moved out of the land "back into three" development, then its value will probably be turned several times.

    The reporter interviewed a number of real estate analyst agreed that the commercial development of two land value is very high. Baosteel Special Steel Division, for example, spread out a map of Baoshan District, not difficult to find the rails cross the third line from the Song River Rd station to a range of three sections of the Youyi Road Station, it is the Baoshan industrial district and neighborhood distinction. Tongji Road (Shanghai rail cross Line is located in this section of the west side of the the Tongji road side) for the industrial zone, Baosteel Special Steel Division accounted for most of the prime locations closest to the rail cross the line; Tongji Road, east of the population intensive areas, with many residential areas, commercial facilities, as well as the Library of Baoshan District, Baoshan sports centers and other public facilities.

    "Compared to other central urban area of ​​Shanghai, Baoshan District, the commercial real estate development is relatively backward, the great potential for the most recent period, Wal-Mart, IKEA, Wanda Commercial Plaza and other predators have been or are ready to open outlets, will lead to the Baoshan overall in the Baoshan business development efforts. "a real estate analyst, told reporters, Hong Kong and other cities, Shanghai s commercial real estate development is also in accordance with the track cross-site wiring. Baosteel Special Steel Division of land for the long side of the rail delivery line was similar to a rectangular shape, but both large area, close to densely populated areas of advantage, is a golden commercial + residential property development.

    Baosteel around the stainless steel division has more residential area distribution, huge development potential.

    China Real Estate Information Group Research Director 薛建雄 pointed out that, according to current regulations, the two sites should the land development, the owners of enterprises selected as the main body of the land development, or made relocation compensation. According to monitoring data of the room letter, Baoshan District, the average price of land transactions in 2011 between 5,000 to 10,000 yuan per square meter. Whichever is the median, Baosteel now has two sites will be worth over 50 billion yuan. Minus the enterprise needs to pay the land transfer is still a considerable asset.

    If you choose to relocation compensation, analysts pointed out that Shanghai s corporate relocation compensation standards, at least in the more than 3500 yuan per square meter, two lots of compensation will reach 25 billion yuan. "As a large state-owned enterprises, and heavy industry, the compensation will only will not be low." The analyst told reporters.

    Company announcement will be accountable

    For land resources for fear of being sold off, resulting in a listed company of Baosteel assets may be a recessive loss of tens of billions of phone calls from reporters interviewed the Secretary of the Board of Baosteel Group Wang. Wang said, inconvenience published before the formal announcement of the results of transfer of land resources and other related information. "Please wait for the official announcement of Baosteel, which will be accountable to the issue of land resources," Wang told reporters.

    Stripping main business acquisition sideline provoke controversy

    Baosteel (600019) has 540 million delisting Group auto parts section. Prior to the sale of the Group with stainless steel, special steel assets, and then to buy auto parts assets of the Group, who is the Lord who can be said that at a glance. Baosteel sale of steel assets has not been implemented, but a series of two related party transactions, gives the feeling of an abandoned main vice. It is worth noting that the purchase of Group assets of the auto parts to complete the transaction, the purchase price of 541 million yuan in the eyes of outsiders and "not cheap".

    541 million acquisition of auto parts is not cheap. "

    Baosteel has announced that the company a subsidiary of Baosteel International Baosteel Group auto parts assets acquired for 541 million yuan. For this purchase price, a number of market participants have indicated that, relative to the the Baosteel secondary market valuation levels, the acquisition is not cheap. "

    The announcement shows that the acquisition of assets of Baosteel Shanghai Baoshan Iron and Steel Wheel Co., Ltd., Yantai Baosteel Wheel Co., Ltd., Shanghai Baosteel Hot Stamping Parts Co., Ltd. and Shanghai Baosteel hydroforming parts Co., Ltd.. The four companies audited net total assets of approximately $ 500 million to assess the value of about 540 million value-added rate of 7.83%. Among them, the wheels of value-added rate of 11.33%, the Yantai wheels 0.80%, 4.18% hot stamping, hot forming 7.09% of the company. After a simple calculation shows that the book value of assets acquired auto parts 1.08 times price-earnings ratio of 33.14 times, yesterday was the Baosteel book value of only 0.85 times price-earnings ratio of 10.70 times . Most of the purchase price is higher than the stock company is the secondary market valuation levels.

    The transaction plan also shows that the proposed acquisition of four companies, Yantai wheel has not yet been put into operation in 2010 net profit of approximately -127 million; hot stamping company was put into operation in late 2010, net profit of 63,000 yuan in 2010; In fact, the two company s net profit also includes a large proportion of non-recurring gains and losses, such as hot stamping received in 2010 operating income of 141.51 million; hydroforming received the non-operating income in 2010 173.36 million. "The acquisition value of the asset revaluation surplus is not significant, but with Baosteel in the secondary market level than the purchase price is not cheap." Changjiang Securities (000783) steel analyst Liu Yuanrui. From the earnings point of view, in the production of construction can not yet fully released, the earnings ratio is slightly higher.

    A buying and selling lead hot

    , Baosteel Metal is a wholly owned subsidiary of Baosteel Group Corporation. Extension of the processing industry for vigorously developing steel, Baosteel Group integrated industrial company in the end of 2007, the Steel Products Division, automobile trade, and wire products business, founded Baosteel Metal, making an important platform for Baosteel steel extension of the development of processing industry. Baosteel metal Diversified Industries subsidiary of Baosteel Group, its business, including metal packaging, industrial gas, auto parts, metal products. Baosteel took over the assets of the Group s subsidiary auto parts, is still quite difficult to understand.

    Permit investment, said Zhang Zhimin, The Baosteel side of the sale of steel stainless steel assets, while the acquisition of auto parts assets, the former main business related degree, which is the industry chain downstream assets, but clearly belongs to the pluralistic nature of the assets. Trading between these two companies and shareholders, there are some very difficult to difficult to understand. Steel business assets, the company will be transferring its major shareholder, then the premium non-core business assets, the acquisition of a subsidiary of the largest shareholder, criticized for related party transactions be unfair, the main may still be companies there are short-sighted reasons. Zhang Zhimin analysis pointed out that Baosteel Special Steel Stainless Steel assets after years of operation, are still not the contribution to profit for the company, the face of the industry downturn and the steel stainless steel plant relocation is expected to hand this is an uncertain assets to short-term thickening performance. But after all these years the company upfront investment is very large, and then adhere to the years or can become a high quality of the company s assets, and thus become the company s future profit growth. Baosteel took over the assets of the largest shareholder listed on the transfer of auto parts, master-slave pair, the feeling of a variety of business relative to the current level of Baosteel valuation premium acquisition, it is a bit abandoned. Advantage of the auto parts business is not Baosteel, the best buyer of such assets should be auto parts manufacturers. Baosteel to acquire auto parts assets grounds full, but will not be as special steel stainless steel assets of the transferee largest shareholder, after some years, Baosteel will sell auto parts assets? Now estimated at Baosteel are not clear.

    Baosteel staff reporter explained that the sale of special steel stainless steel assets, these two assets are gross profit margin is not high, the drag on the performance of the company. According to the Shanghai Urban Planning, steel, stainless steel plant, sooner or later move out of downtown Shanghai. Steel, stainless steel plant location in the urban areas, the production cost is relatively high, relatively speaking, the sale of two is currently not profitable steel asset, the company focused on carbon steel and sheet main business. For steel, stainless steel factory land, the potential appreciation of the topic, the staff member said that the factory land appreciation is a relatively large income, but also taking into account the cost of the relocation of factories, including the cost of plant construction and placement of personnel. And when will the relocation of uncertainty, even if the plant after the removal of plant land commercial land valuation, and also excluding municipal roads and other urban facilities part, can not completely according to the current factory area to calculate the value of the land. The Baosteel why while the sale of iron and steel assets, while the acquisition of the automotive auto parts assets? The staff said, the company acquired the assets of auto parts, mainly to service downstream suppliers. Acquisition premium is the relative valuation of Baosteel, not auto parts purchase price high, mainly Baosteel low market valuation.

    Difficult to improve the investment value

    After The Baosteel stripped steel stainless steel have not been implemented, the recent stock price performance following the broader market, the company sold steel stainless steel assets to the implementation of the investment value is not large, the market outlook, stock price movements how?

    UBS Investment Zhang Guangxin, Baosteel (600019) The sale of assets may not be out of the needs of the company s development strategy adjustment, but to meet a product of the overall urban planning of Shanghai Municipal Government. Although the stainless steel and special steel business in the history of contribution to the performance of the company is negative, but mainly because these two operations are in the investment period, but originally anticipated due returns can not be honored after the sale. Completion of the sale of the stainless steel, special steel assets, if the major shareholder of the new high-quality assets into the listed company, the actual impact but a negative, but because of the relatively small proportion, combined with pre-made no contribution to performance, the investment value of the company , it should not produce a lot of damage.

    Investment in China Securities, said Zhang Zhimin, stainless steel, special steel business divestiture years of losses, the performance of listed companies has been a negative contribution. Loss of stainless steel, the steel business is not the business of the main advantages of the Baoshan Iron & Steel, Baosteel most advantage product has been concentrated in areas of high quality carbon steel flat products. Divestiture of these two losses, company resources will be more focused on areas of strength to contribute to the company s long-term strategy to achieve. Therefore, the investment value of the company s short-term or there will be some upgrading.

    Shenzhen Chi-Ying Lai Xu broadcast Baosteel sold steel and stainless steel assets does not exceed 20% of the company s total assets, and the assets of the loss or profit in the short term the company is reducing the burden, you can concentrate better do a good job stronger flagship product, the value of the company to enhance the positive significance. Value of the land is not cheap but because of special steel and stainless steel plant, the company sold to the largest shareholder of steel and stainless steel assets, if the land valuation is unreasonable or lower than the market average price, the company may not be part of the huge gains of factory land appreciation , which will have potential benefits have a negative impact.

    Long-term may be "disastrous"

    Stainless steel and special steel division, the Baosteel will be divested in 2005 to raise additional funds to purchase one. In April of that year, the company issuing 50 million shares to the Corporation acquired a steel, five steel and other assets, and then evolved into the stainless steel and special steel division.

    News of the acquisition, the industry also expressed a bit of a shock, because a series of actions before Baosteel (600019) on stainless steel raw material control, from raw material acquisition to control the domestic supply of nickel companies, these people surprised that the behavior of the divested assets .

    The report shows that over the years, the company acquired a factory and Wuchang, in addition to 2006 earnings, basic loss of the rest of the year or in the edge of the break-even. Although the two gross profit is the basic balance, but the pre-tax profit of at least a loss of 1 billion yuan. Some analysts believe that stripped out of the two assets allows Baosteel to get rid of the burden of traveling light.

    Han Zhenguo, stainless steel, steel is not a low-quality assets, Baosteel Group since the reorganization of the steel plant, Wuchang, put a lot of manpower and resources for technology upgrades, equipment replacement, is currently in the efficiency improvements of CRE securities. Reported that from 2011 look, stainless steel, steel operating profit of 79 million yuan -1200 million, while last year s operating net profit of 50 million yuan, -3.6 billion, including steel losses significantly.

    Steel and a high investment, long period, high-yield industry for many years to build the steel plate after the company, technology, products are first class, the basic realization of the losses, the stainless steel business industry is beginning to pick up.

    In the long run, Han Zhenguo that the divestitures negative than positive impact on the performance of the company, mainly because of special steel, stainless steel companies are at the input end of the performance of the rapid increase in carbon steel business performance has been declining, the two businesses can play a supporting performance, stripping the company long-term performance has become uncertain.

    In addition, the rich treasure of information stainless steel research team believes that the divestiture of the two businesses will result in the loss of some hidden assets. Baosteel Stainless Steel Division is located in the Yangtze River Road, Baoshan District, Shanghai Baosteel Special Steel Division located in Tongji. With the rapid economic development of Shanghai, the two large pieces has become a prime location of Shanghai city, the surrounding land prices soared, the value of a single block in the hundreds of billion, stripping means the loss of these hidden assets.

    Dongxing Securities and steel industry analyst at Sun Jiqing, steel is the most room for growth, variety, Baosteel sold relatively cheap, Baosteel is a loss.

    The part of the revenue can be substantial thickening of the performance of the company next year, Han Zhenguo negative attitude, the company has maintained a cautious performance related assets acquired from the group or external, may sell assets to the Group at the same time, synchronous operation, the performance of the company is expected to want to maintain stable, does not appear to fluctuate significantly.

    BOCI Yue Yu-kun in the report, analysis of iron and steel manufacturing sector in the first half of 2011, consolidated gross profit margin was 8.8%, they will not consider the sale of assets that may arise premium income, a rough calculation stripped steel and stainless steel business, the company s iron and steel manufacturing business gross margin increased to 10.85%, the peel is also conducive to the debt mitigation and reduction in financial costs.

    Le Yu-kun also said stripping plate with poor performance, corporate profitability will be enhanced, crude estimates of 2012 peel plate company reduced losses of $ 700 million. But the point is still optimistic about the outlook for the steel industry, Baosteel sale of the steel business in the long run improved the structure of assets of the company may not be the best choice.

    The steel industry is experiencing severe winter

    Present, China is the most stringent in the real estate regulation period, the development of the steel industry a great deal of containment. Industry as a whole "winter" leading steel enterprises, Baosteel (600019) can not be spared.

    Steel Fellow of the brokerage, said the profitability of the industry as a whole low steel prices rising unusually small space. The first quarter of 2010, steel prices rose to about 700 yuan, while the first quarter this year rose only by the magnitude of 200 yuan. From the point of view the weak downstream demand, prices again this year, space is minimal.

    And iron ore prices followed by steel prices, rising steel prices, the profits of iron ore prices are devouring them. And the supply of iron ore this year as a whole is tight, cause for long-term high cost relative steel prices, the supply of ore to 2013 can be improved.

    Shenzhen, a broker researcher also said that the industry is now in the most bad time, but slowly getting better. The excess supply will be curbed, and demand no longer poor down because economic development or to the steel, so the contradiction between supply and demand will slow, optimistic in 2014 bottomed out.

    The steel industry cycle to look at it in the next few years, the researcher said that the entire "12th Five-Year" period the demand for steel will slow down. The annual growth rate of the "Eleventh Five-Year" during the steel production reached an average of 10%. Although steel production growth in 2011 is 9%, but most industry analysts expect the "12th Five-Year" period, the average growth rate is about 5%.

    Weakness in domestic demand, steel total will not be much growth in the context of transition to consumer-driven economy driven by investment, and current industry oversupply, and will become the norm. Within the industry or structural two o clock, and this will drive demand for high quality steel, thereby stimulating industrial upgrading.

    The analysts believe that the iron and steel enterprises to continue to develop, from a cost perspective, enterprises should go overseas purchases of overseas mining resources, to improve resource protection degree. From Japan and South Korea s development experience, their steel is still the acquisition of overseas mines, and positive outside the layout of the product line, such as Brazil, India, Southeast Asia and other places.

    Medium to long term is still not attractive

    Baoshan Iron & Steel (600019) shock yesterday to rise, eventually closing at 5.17 yuan, rose 0.58 percent. Baosteel outlook on how to run?

    Permit investment, said Zhang Zhimin, Baosteel and other large weights varieties not show a significant decline in the current market environment. Baosteel largest shareholder has holdings in the bargain, short term probability of maintaining volatility climbed.

    UBS Investment Zhang Guangxin, Baosteel showed significant resilience, large shareholders other action, does not rule out price will be the transaction performance. Baosteel is subject to a relative shortage of liquidity, it would be difficult to maintain the shock rising trend continued to move up. The same time, the iron ore prices, steel prices, weak demand multifaceted impact of the steel industry is in a downturn. From a valuation point of view, but also did not reach the level of historical worst, and therefore the stock in the long-term investment value is still not have enough appeal.

    Lai Xu broadcast said that the main cost of Baosteel to 6.45 yuan, the current share price below the cost to run in the bottom of the area in recent years, showing stabilized and to build long-term signs at the bottom, it is estimated that in the medium term will gradually bottomed out, while uplink rate depends on the company s performance after the sale of assets changes.

Editor s Note: Yesterday, according to the Safety Committee of Jiangsu Province informed the morning of the 23rd Baosteel Group Shanghai Meishan Iron & Steel Co. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people, 7 people were injured, the injured condition is basically stable. "The operation of safety norms is certainly not enough to put in place. Although the steel industry is a high-risk industries, but serious incidents such as this should be avoided." Yesterday, deputy director of the Metallurgical Industry Economic Development Research Center, Liu Haimin said in the interview with this reporter. Meanwhile, he also pointed out that the accident of Meishan Iron and Steel Baosteel internal culture, management is still not well related to integration.

    The Baosteel accident operation of the safety norms in place of steel enterprises need more emphasis on management

    Since the beginning of this year, the steel industry a major accident frequently, has killed nearly 20 people were killed

    Yesterday, according to the Safety Committee of Jiangsu Province Bulletin 23 on the morning of Baosteel Group Shanghai Meishan Iron and Steel Co., Ltd. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people were killed and seven injured. injured condition is basically stable.sanitary fittings

    Xilin Steel Group, Harbin Cheng steel carbon monoxide poisoning, Anshan Iron and steel foundries molten steel spray explosion accident after year since with the iron and steel industry has

Editor s Note: Yesterday, according to the Safety Committee of Jiangsu Province informed the morning of the 23rd Baosteel Group Shanghai Meishan Iron & Steel Co. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people, 7 people were injured, the injured condition is basically stable. "The operation of safety norms is certainly not enough to put in place. Although the steel industry is a high-risk industries, but serious incidents such as this should be avoided." Yesterday, deputy director of the Metallurgical Industry Economic Development Research Center, Liu Haimin said in the interview with this reporter. Meanwhile, he also pointed out that the accident of Meishan Iron and Steel Baosteel internal culture, management is still not well related to integration.

    The Baosteel accident operation of the safety norms in place of steel enterprises need more emphasis on management

    Since the beginning of this year, the steel industry a major accident frequently, has killed nearly 20 people were killed

    Yesterday, according to the Safety Committee of Jiangsu Province Bulletin 23 on the morning of Baosteel Group Shanghai Meishan Iron and Steel Co., Ltd. pressurized converter station gas tank in the transformation of the overhaul process gas poisoning accident has killed six people were killed and seven injured. injured condition is basically stable.sanitary fittings

    Xilin Steel Group, Harbin Cheng steel carbon monoxide poisoning, Anshan Iron and steel foundries molten steel spray explosion accident after year since with the iron and steel industry has undergone a serious security incidents.

    "The operation of safety norms is certainly not enough to put in place. Although the steel industry is a high-risk industries, but serious incidents such as this should be avoided." Yesterday, deputy director of the Metallurgical Industry Economic Development Research Center, Liu Haimin said in the interview with this reporter. Meanwhile, he also pointed out that the accident of Meishan Iron and Steel Baosteel internal culture, management is still not well related to integration.

    Steel enterprises in a major accident-prone

    It is reported that, after initial analysis showed that the Meishan Steel, the accident occurred because: construction workers do not understand the return pipe back to memory in the case of gas pressure station to the gas tank return pipe blind flange at the flange bolts removed, resulting in Blind plate down, resulting in the return pipe back to the gas intrusion into the gas tank, causing the gas poisoning of the gas cabinet operations personnel. Meishan Iron and Steel shares is a subsidiary of Baosteel Group in Nanjing, with an annual output of 3 million tons of steel production capacity.

    The localization of management principles in accordance with the safe production, the Safety Committee of Jiangsu Province under the larger accident investigation supervise the handling of way, track management, accident investigation and responsibilities to be investigated seriously dealt with according to law of the relevant persons responsible for plugging loopholes in management.

    In Baosteel the major casualties of the first three days, with steel central rate of the Anshan Iron and Steel Group has just taken place with the big casualty: 36 points on February 20, 2009 23, Anshan Iron and Steel Group restructuring of shareholding enterprises Angang Heavy Machinery Co. liability company cast steel factory spray explosion accident, 13 people were killed and 17 others were injured.

    Not only that, the further back in January of this year, 16 21, 30 minutes or so, Xilin Iron and Steel Group Cheng Iron & Steel Co., Ltd. is a carbon monoxide leak, resulting in the mass poisoning of 32 people, and has resulted in the death of one person; October 5, 2011 11:45, Nanganggufen (600 282) Ironworks No. 5 blast furnace in the shutdown process, molten iron outflow of the accident, a total of 12 people were killed and one seriously injured and direct economic losses of 12.08 million yuan.

    Busy mergers should pay attention to the Management Integration

    It is noteworthy that, with the previous burst of security incidents and the steel prices are mostly private enterprises in different recent Instead, large state-owned leading steel prices move frequently on security issues.

    "Management is not strict, safe operation is certainly not in accordance with the rules and regulations." Liu Haimin pointed out that these large steel enterprises have a relatively complete set of security system, but the question is, "How many years did the accident may be thinking of paralysis."

    It is worth mentioning, Baosteel has been in the industry is considered to be the pacesetter of the domestic steel industry innovation and production safety, the AISC serious accidents are still powerful reverberations, Meishan Steel s suddenly followed by exposed to major security incidents so that the industry quite for emotion.

    The data show that the Meishan Steel is located in the southwest suburbs of Nanjing, 1998 with Baosteel on steel with the consolidation and reorganization, Baosteel (600019) one of the core assets, the annual steel capacity of 3 million tons.

    Meishan Iron and Steel in the culture, management, and wage levels with the main part of Baosteel in Shanghai or a difference. "Liu Haimin opinion, as opposed to in recent years" staking "to promote the speed of industry mergers, the leading domestic steel prices still attach importance to their management after the merger integration is not enough.

    Baoshan Iron and Steel "is actually in the merger and reorganization in the country or doing good is a sample of enterprises with advanced experience." Said Liu Haimin, Meishan Steel accident but this still can be seen, Baosteel within the culture, management is still not fully integration, which "in the coming period is difficult to quickly achieve".

    The Baosteel pricing the sale of stainless steel assets reduced losses the income Chaobaiyi (Figure)

    Baoshan Iron & Steel

    Baosteel (600019) will be stripped of stainless steel and special steel business assets, not only to avoid a loss of 1.54 billion yuan, also receive a one-time gain of approximately 9.58 billion yuan

    Baosteel announced that the company has priced the sale of its stainless steel and special steel business assets, and then set to be considered by the major shareholder of Baosteel Group. Board of Directors expects that this will optimize the assets of the company structure, improve the efficiency of asset management, and then focus on the most competitive of the carbon steel business, and ultimately improve the overall profitability.

    Baosteel mid-December last year, intends to controlling shareholders to sell stainless steel, the steel division of assets, assessment of the assets through intermediaries, is now officially launched after the refinement of the sale of assets.

    In the relative cost disadvantage due to energy sources, process layout, Baosteel s stainless steel and special steel business profitability for many years at a low level, although the stainless steel business gross margin barely positive, but the steel business is basically at the The gross margin loss of status, profitability was significantly weaker than the carbon steel business. In fact, stainless steel and special steel business over the years the performance of poor phenomenon is not unique to Baosteel; Currently, the global stainless steel industry generally in a weak state of profitability, such as the German steel manufacturer ThyssenKrupp Group has decided in 2012 The January announcement to be € 2.7 billion sale of its stainless steel business Inoxum.

    Baosteel s stripping loss of business, the speculation that at least the performance of the company will bring three positive: First, eliminate the loss of stainless steel and special steel business to the negative impact, and enhance the company s profitability; According to the company said, expected to stainless steel and special steel sale of assets will reduce the loss of 1.54 billion yuan. Second, the availability of a one-time asset sale proceeds; not take into account taxes, the assessed value-added assets after the sale, will make Baosteel the disposable income of about 9.58 billion yuan. Third, reduce the financial costs; consider the one-time cash, installment payments and the cost of corporate finance, fund operational efficiency and installment interest level of factors is expected the sale of assets that reduce Baosteel financial cost of about 1.4 billion million. As a result, the company through reduced losses, increase the carrying amount of cash flow and reduce financial costs, the total benefit will be more than 12.5 billion yuan.

    Baosteel most competitive products for common carbon cold-rolled sheet and hot rolled sheet, the obvious advantages of high-end, and strong profitability. Guoxin Securities and other agencies believe that Baosteel to sell stainless steel, special steel business, making it more focused on the carbon steel business already has a strong competitive advantage, the company s long-term development.

    Baosteel gas leak caused by the 6 dead after delete Angang accident press releaseclamp ferrule

    One north and one south, two of China s largest steel central enterprise of Anshan Iron and Steel Group and Baosteel Group three days apart, and the casualties have occurred in the production process. A serious casualties, a major casualty.

    According to the Nanjing Municipal Government on the 24th informed Meishan Iron & Steel Co. (Baosteel (600019) under the said by Meishan Iron and Steel "), gas poisoning accident three seriously wounded died, the accident killed six people, there are seven people continue in the hospital for treatment, the condition is basically stable.

    At 11:50 on the 23rd, the Meishan Steel is located in Nanjing Yuhuatai gas leakage occurs, resulting in converter gas intrusion into the gas tank and cause the cabinet to the ongoing technological transformation of the overhaul of the construction of 13 gas poisoning of workers, three of them the same day rescue died.

    3 days ago on the 20th, the Anshan Iron and Steel Group Corporation in the serious injury or death, a total of 13 people were killed and 17 injured (six seriously injured). After the accident, the Baosteel Group website in 23 to one to learn from the lessons of the Anshan Iron and spray the burst accident, to strengthen the safety production of press releases. Group Safety Supervision Department, the Baosteel security in the first time communicated to the relevant units notice of the accident information on how to made specific plans for Kam, strengthen production safety, strengthen the prevention of accidents, Baosteel Group, said at the time. After receiving the notice, the Bayi Iron & Steel (600 581), Ningbo Iron and Steel, Shaoguan Iron & Steel, Baosteel headquarters, and the stainless steel division, the Special Steel Division Steel Pipe Steel Division, Meishan Iron and Steel Company, Baosteel engineering units to respond quickly, one after another for its own operations, embarked on a hidden danger and accident prevention.

    However, the same day, the casualties. That a subsidiary of casualty accidents, Baosteel Group, the press releases are quickly removed.

    Meishan Iron and Steel is a subsidiary of Baosteel in Nanjing, but also Baosteel is the core of one of the assets. Since the consolidation and reorganization in 1998, Baoshan Iron and Steel on Steel, Meishan, Meishan Iron and Steel Company, through the implementation of the blast furnace, steelmaking, hot rolling three technical transformation projects, has been with an annual output of 3 million tons of steel production capacity.

    It is noteworthy that, Baosteel has been considered the domestic steel industry pacesetter in innovation and production safety.

    According to the statistics of the China Steel Industry Association, 2011, the national focus on the total profits of the large and medium-sized steel enterprises was 87.53 billion yuan, Baosteel Group, a total profit of 18.7 billion yuan, accounting for 21.37% of the total profit of the national key large and medium-sized steel enterprises.

    However, Baosteel also failed in the safe production to avoid casualties. A few years ago, Baosteel is a casualty. March 3, 2008, Special Steel Branch of Baosteel steel pickling heat treatment plant with nitrogen asphyxiation incidents, resulting in two deaths and three injuries.

    The sale of land suspected the fire sale the Baosteel disposal of assets hidden cost tens of billions?

    Baosteel (600019) has announced that the intends to controlling shareholder of Baosteel Group to sell stainless steel, special steel division of assets, is expected involving the assets of the carrying value will not exceed 20% of the latest audited total assets, the company will employ intermediaries to assess the above assets, and further refinement of the asset sale program. Was in 2005, additional fund-raising to the acquisition of the latter one of the core projects, but now want to sell. Some analysts believe that the divestitures negative than positive, such as improper disposal or cause a huge hidden cost.

    1 intends to dispose of land assets suspected or cheapstainless steel pipe fittings

    For Baosteel intends stainless steel, special steel, two division was sold to the controlling shareholder of Baosteel Group, the many investors worried about the transfer process, the two land assets of the Division of fear is the original purchase price of divestiture or a small amount of premium stripped lead to the recessive loss of assets of listed companies. With this issue, the reporter visited the site of the two divisions are regional, and interviews with the stakeholders of the real estate sector, trying to be as objective as possible, accurately restore Baosteel holds two pieces of land the true value of the assets.

    Two plant area of ​​nearly 70,000 square kilometers

    Baosteel Stainless Steel Division is located at Changjiang Road, Baoshan District, Shanghai, formerly known as the Shanghai Iron and Steel Plant, covers an area of ​​3.43 square kilometers; Baosteel Special Steel Division at Tongji Road, formerly known as the Shanghai Iron and Steel Wuchang, covers an area of ​​3.49 square kilometers. Two plant covers an area of ​​nearly seven square kilometers. In November 1998, the two plants after the restructuring, Baosteel subordinate enterprises.

    The reporter visited the site found, in addition to the considerable area of ​​land, the geographic location of the two sites is also quite good. The Special Steel Division site close to the Shanghai Rail Transit Line, Fisheries Road and Po Yang Road, rail delivery sites in close proximity. The stainless steel division, though far from orbit intersecting lines, but closer to the central area of ​​Shanghai. The reporter tried to enter the factory interview, security interception but was unable to make the trip.

    The head of DTZ Debenham Tie Leung Ministry of Industry Eastern Region Director Su Zhiyuan said in an interview with reporters, the price of industrial land by the access industry, geography, and time to market and other external constraints are more difficult to accurately calculate the value of the concrete block which listed on the stock market before and price. See recent transactions from DTZ Debenham Tie Leung, the recent Shanghai industrial land transactions Fengxian, Port Metro and other remote areas, the average price of about 500,000 yuan per mu. Based on experience, mature industrial development, Baoshan District, the average price of industrial land in land scarce could reach twice the above-mentioned regions, the price of the prime locations would be even higher. By this calculation, Baosteel have two of the end of the value of land tenure in more than 10 billion yuan.

    Land development worth more than $ 50 billion

    Guarantee the value of the above, these two pieces of land continue to be calculated as the industrial land; Baosteel factory moved out of the land "back into three" development, then its value will probably be turned several times.

    The reporter interviewed a number of real estate analyst agreed that the commercial development of two land value is very high. Baosteel Special Steel Division, for example, spread out a map of Baoshan District, not difficult to find the rails cross the third line from the Song River Rd station to a range of three sections of the Youyi Road Station, it is the Baoshan industrial district and neighborhood distinction. Tongji Road (Shanghai rail cross Line is located in this section of the west side of the the Tongji road side) for the industrial zone, Baosteel Special Steel Division accounted for most of the prime locations closest to the rail cross the line; Tongji Road, east of the population intensive areas, with many residential areas, commercial facilities, as well as the Library of Baoshan District, Baoshan sports centers and other public facilities.

    "Compared to other central urban area of ​​Shanghai, Baoshan District, the commercial real estate development is relatively backward, the great potential for the most recent period, Wal-Mart, IKEA, Wanda Commercial Plaza and other predators have been or are ready to open outlets, will lead to the Baoshan overall in the Baoshan business development efforts. "a real estate analyst, told reporters, Hong Kong and other cities, Shanghai s commercial real estate development is also in accordance with the track cross-site wiring. Baosteel Special Steel Division of land for the long side of the rail delivery line was similar to a rectangular shape, but both large area, close to densely populated areas of advantage, is a golden commercial + residential property development.

    Baosteel around the stainless steel division has more residential area distribution, huge development potential.

    China Real Estate Information Group Research Director 薛建雄 pointed out that, according to current regulations, the two sites should the land development, the owners of enterprises selected as the main body of the land development, or made relocation compensation. According to monitoring data of the room letter, Baoshan District, the average price of land transactions in 2011 between 5,000 to 10,000 yuan per square meter. Whichever is the median, Baosteel now has two sites will be worth over 50 billion yuan. Minus the enterprise needs to pay the land transfer is still a considerable asset.

    If you choose to relocation compensation, analysts pointed out that Shanghai s corporate relocation compensation standards, at least in the more than 3500 yuan per square meter, two lots of compensation will reach 25 billion yuan. "As a large state-owned enterprises, and heavy industry, the compensation will only will not be low." The analyst told reporters.

    Company announcement will be accountable

    For land resources for fear of being sold off, resulting in a listed company of Baosteel assets may be a recessive loss of tens of billions of phone calls from reporters interviewed the Secretary of the Board of Baosteel Group Wang. Wang said, inconvenience published before the formal announcement of the results of transfer of land resources and other related information. "Please wait for the official announcement of Baosteel, which will be accountable to the issue of land resources," Wang told reporters.

    Stripping main business acquisition sideline provoke controversy

    Baosteel (600019) has 540 million delisting Group auto parts section. Prior to the sale of the Group with stainless steel, special steel assets, and then to buy auto parts assets of the Group, who is the Lord who can be said that at a glance. Baosteel sale of steel assets has not been implemented, but a series of two related party transactions, gives the feeling of an abandoned main vice. It is worth noting that the purchase of Group assets of the auto parts to complete the transaction, the purchase price of 541 million yuan in the eyes of outsiders and "not cheap".

    541 million acquisition of auto parts is not cheap. "

    Baosteel has announced that the company a subsidiary of Baosteel International Baosteel Group auto parts assets acquired for 541 million yuan. For this purchase price, a number of market participants have indicated that, relative to the the Baosteel secondary market valuation levels, the acquisition is not cheap. "

    The announcement shows that the acquisition of assets of Baosteel Shanghai Baoshan Iron and Steel Wheel Co., Ltd., Yantai Baosteel Wheel Co., Ltd., Shanghai Baosteel Hot Stamping Parts Co., Ltd. and Shanghai Baosteel hydroforming parts Co., Ltd.. The four companies audited net total assets of approximately $ 500 million to assess the value of about 540 million value-added rate of 7.83%. Among them, the wheels of value-added rate of 11.33%, the Yantai wheels 0.80%, 4.18% hot stamping, hot forming 7.09% of the company. After a simple calculation shows that the book value of assets acquired auto parts 1.08 times price-earnings ratio of 33.14 times, yesterday was the Baosteel book value of only 0.85 times price-earnings ratio of 10.70 times . Most of the purchase price is higher than the stock company is the secondary market valuation levels.

    The transaction plan also shows that the proposed acquisition of four companies, Yantai wheel has not yet been put into operation in 2010 net profit of approximately -127 million; hot stamping company was put into operation in late 2010, net profit of 63,000 yuan in 2010; In fact, the two company s net profit also includes a large proportion of non-recurring gains and losses, such as hot stamping received in 2010 operating income of 141.51 million; hydroforming received the non-operating income in 2010 173.36 million. "The acquisition value of the asset revaluation surplus is not significant, but with Baosteel in the secondary market level than the purchase price is not cheap." Changjiang Securities (000783) steel analyst Liu Yuanrui. From the earnings point of view, in the production of construction can not yet fully released, the earnings ratio is slightly higher.

    A buying and selling lead hot

    , Baosteel Metal is a wholly owned subsidiary of Baosteel Group Corporation. Extension of the processing industry for vigorously developing steel, Baosteel Group integrated industrial company in the end of 2007, the Steel Products Division, automobile trade, and wire products business, founded Baosteel Metal, making an important platform for Baosteel steel extension of the development of processing industry. Baosteel metal Diversified Industries subsidiary of Baosteel Group, its business, including metal packaging, industrial gas, auto parts, metal products. Baosteel took over the assets of the Group s subsidiary auto parts, is still quite difficult to understand.

    Permit investment, said Zhang Zhimin, The Baosteel side of the sale of steel stainless steel assets, while the acquisition of auto parts assets, the former main business related degree, which is the industry chain downstream assets, but clearly belongs to the pluralistic nature of the assets. Trading between these two companies and shareholders, there are some very difficult to difficult to understand. Steel business assets, the company will be transferring its major shareholder, then the premium non-core business assets, the acquisition of a subsidiary of the largest shareholder, criticized for related party transactions be unfair, the main may still be companies there are short-sighted reasons. Zhang Zhimin analysis pointed out that Baosteel Special Steel Stainless Steel assets after years of operation, are still not the contribution to profit for the company, the face of the industry downturn and the steel stainless steel plant relocation is expected to hand this is an uncertain assets to short-term thickening performance. But after all these years the company upfront investment is very large, and then adhere to the years or can become a high quality of the company s assets, and thus become the company s future profit growth. Baosteel took over the assets of the largest shareholder listed on the transfer of auto parts, master-slave pair, the feeling of a variety of business relative to the current level of Baosteel valuation premium acquisition, it is a bit abandoned. Advantage of the auto parts business is not Baosteel, the best buyer of such assets should be auto parts manufacturers. Baosteel to acquire auto parts assets grounds full, but will not be as special steel stainless steel assets of the transferee largest shareholder, after some years, Baosteel will sell auto parts assets? Now estimated at Baosteel are not clear.

    Baosteel staff reporter explained that the sale of special steel stainless steel assets, these two assets are gross profit margin is not high, the drag on the performance of the company. According to the Shanghai Urban Planning, steel, stainless steel plant, sooner or later move out of downtown Shanghai. Steel, stainless steel plant location in the urban areas, the production cost is relatively high, relatively speaking, the sale of two is currently not profitable steel asset, the company focused on carbon steel and sheet main business. For steel, stainless steel factory land, the potential appreciation of the topic, the staff member said that the factory land appreciation is a relatively large income, but also taking into account the cost of the relocation of factories, including the cost of plant construction and placement of personnel. And when will the relocation of uncertainty, even if the plant after the removal of plant land commercial land valuation, and also excluding municipal roads and other urban facilities part, can not completely according to the current factory area to calculate the value of the land. The Baosteel why while the sale of iron and steel assets, while the acquisition of the automotive auto parts assets? The staff said, the company acquired the assets of auto parts, mainly to service downstream suppliers. Acquisition premium is the relative valuation of Baosteel, not auto parts purchase price high, mainly Baosteel low market valuation.

    Difficult to improve the investment value

    After The Baosteel stripped steel stainless steel have not been implemented, the recent stock price performance following the broader market, the company sold steel stainless steel assets to the implementation of the investment value is not large, the market outlook, stock price movements how?

    UBS Investment Zhang Guangxin, Baosteel (600019) The sale of assets may not be out of the needs of the company s development strategy adjustment, but to meet a product of the overall urban planning of Shanghai Municipal Government. Although the stainless steel and special steel business in the history of contribution to the performance of the company is negative, but mainly because these two operations are in the investment period, but originally anticipated due returns can not be honored after the sale. Completion of the sale of the stainless steel, special steel assets, if the major shareholder of the new high-quality assets into the listed company, the actual impact but a negative, but because of the relatively small proportion, combined with pre-made no contribution to performance, the investment value of the company , it should not produce a lot of damage.

    Investment in China Securities, said Zhang Zhimin, stainless steel, special steel business divestiture years of losses, the performance of listed companies has been a negative contribution. Loss of stainless steel, the steel business is not the business of the main advantages of the Baoshan Iron & Steel, Baosteel most advantage product has been concentrated in areas of high quality carbon steel flat products. Divestiture of these two losses, company resources will be more focused on areas of strength to contribute to the company s long-term strategy to achieve. Therefore, the investment value of the company s short-term or there will be some upgrading.

    Shenzhen Chi-Ying Lai Xu broadcast Baosteel sold steel and stainless steel assets does not exceed 20% of the company s total assets, and the assets of the loss or profit in the short term the company is reducing the burden, you can concentrate better do a good job stronger flagship product, the value of the company to enhance the positive significance. Value of the land is not cheap but because of special steel and stainless steel plant, the company sold to the largest shareholder of steel and stainless steel assets, if the land valuation is unreasonable or lower than the market average price, the company may not be part of the huge gains of factory land appreciation , which will have potential benefits have a negative impact.

    Long-term may be "disastrous"

    Stainless steel and special steel division, the Baosteel will be divested in 2005 to raise additional funds to purchase one. In April of that year, the company issuing 50 million shares to the Corporation acquired a steel, five steel and other assets, and then evolved into the stainless steel and special steel division.

    News of the acquisition, the industry also expressed a bit of a shock, because a series of actions before Baosteel (600019) on stainless steel raw material control, from raw material acquisition to control the domestic supply of nickel companies, these people surprised that the behavior of the divested assets .

    The report shows that over the years, the company acquired a factory and Wuchang, in addition to 2006 earnings, basic loss of the rest of the year or in the edge of the break-even. Although the two gross profit is the basic balance, but the pre-tax profit of at least a loss of 1 billion yuan. Some analysts believe that stripped out of the two assets allows Baosteel to get rid of the burden of traveling light.

    Han Zhenguo, stainless steel, steel is not a low-quality assets, Baosteel Group since the reorganization of the steel plant, Wuchang, put a lot of manpower and resources for technology upgrades, equipment replacement, is currently in the efficiency improvements of CRE securities. Reported that from 2011 look, stainless steel, steel operating profit of 79 million yuan -1200 million, while last year s operating net profit of 50 million yuan, -3.6 billion, including steel losses significantly.

    Steel and a high investment, long period, high-yield industry for many years to build the steel plate after the company, technology, products are first class, the basic realization of the losses, the stainless steel business industry is beginning to pick up.

    In the long run, Han Zhenguo that the divestitures negative than positive impact on the performance of the company, mainly because of special steel, stainless steel companies are at the input end of the performance of the rapid increase in carbon steel business performance has been declining, the two businesses can play a supporting performance, stripping the company long-term performance has become uncertain.

    In addition, the rich treasure of information stainless steel research team believes that the divestiture of the two businesses will result in the loss of some hidden assets. Baosteel Stainless Steel Division is located in the Yangtze River Road, Baoshan District, Shanghai Baosteel Special Steel Division located in Tongji. With the rapid economic development of Shanghai, the two large pieces has become a prime location of Shanghai city, the surrounding land prices soared, the value of a single block in the hundreds of billion, stripping means the loss of these hidden assets.

    Dongxing Securities and steel industry analyst at Sun Jiqing, steel is the most room for growth, variety, Baosteel sold relatively cheap, Baosteel is a loss.

    The part of the revenue can be substantial thickening of the performance of the company next year, Han Zhenguo negative attitude, the company has maintained a cautious performance related assets acquired from the group or external, may sell assets to the Group at the same time, synchronous operation, the performance of the company is expected to want to maintain stable, does not appear to fluctuate significantly.

    BOCI Yue Yu-kun in the report, analysis of iron and steel manufacturing sector in the first half of 2011, consolidated gross profit margin was 8.8%, they will not consider the sale of assets that may arise premium income, a rough calculation stripped steel and stainless steel business, the company s iron and steel manufacturing business gross margin increased to 10.85%, the peel is also conducive to the debt mitigation and reduction in financial costs.

    Le Yu-kun also said stripping plate with poor performance, corporate profitability will be enhanced, crude estimates of 2012 peel plate company reduced losses of $ 700 million. But the point is still optimistic about the outlook for the steel industry, Baosteel sale of the steel business in the long run improved the structure of assets of the company may not be the best choice.

    The steel industry is experiencing severe winter

    Present, China is the most stringent in the real estate regulation period, the development of the steel industry a great deal of containment. Industry as a whole "winter" leading steel enterprises, Baosteel (600019) can not be spared.

    Steel Fellow of the brokerage, said the profitability of the industry as a whole low steel prices rising unusually small space. The first quarter of 2010, steel prices rose to about 700 yuan, while the first quarter this year rose only by the magnitude of 200 yuan. From the point of view the weak downstream demand, prices again this year, space is minimal.

    And iron ore prices followed by steel prices, rising steel prices, the profits of iron ore prices are devouring them. And the supply of iron ore this year as a whole is tight, cause for long-term high cost relative steel prices, the supply of ore to 2013 can be improved.

    Shenzhen, a broker researcher also said that the industry is now in the most bad time, but slowly getting better. The excess supply will be curbed, and demand no longer poor down because economic development or to the steel, so the contradiction between supply and demand will slow, optimistic in 2014 bottomed out.

    The steel industry cycle to look at it in the next few years, the researcher said that the entire "12th Five-Year" period the demand for steel will slow down. The annual growth rate of the "Eleventh Five-Year" during the steel production reached an average of 10%. Although steel production growth in 2011 is 9%, but most industry analysts expect the "12th Five-Year" period, the average growth rate is about 5%.

    Weakness in domestic demand, steel total will not be much growth in the context of transition to consumer-driven economy driven by investment, and current industry oversupply, and will become the norm. Within the industry or structural two o clock, and this will drive demand for high quality steel, thereby stimulating industrial upgrading.

    The analysts believe that the iron and steel enterprises to continue to develop, from a cost perspective, enterprises should go overseas purchases of overseas mining resources, to improve resource protection degree. From Japan and South Korea s development experience, their steel is still the acquisition of overseas mines, and positive outside the layout of the product line, such as Brazil, India, Southeast Asia and other places.

    Medium to long term is still not attractive

    Baoshan Iron & Steel (600019) shock yesterday to rise, eventually closing at 5.17 yuan, rose 0.58 percent. Baosteel outlook on how to run?

    Permit investment, said Zhang Zhimin, Baosteel and other large weights varieties not show a significant decline in the current market environment. Baosteel largest shareholder has holdings in the bargain, short term probability of maintaining volatility climbed.

    UBS Investment Zhang Guangxin, Baosteel showed significant resilience, large shareholders other action, does not rule out price will be the transaction performance. Baosteel is subject to a relative shortage of liquidity, it would be difficult to maintain the shock rising trend continued to move up. The same time, the iron ore prices, steel prices, weak demand multifaceted impact of the steel industry is in a downturn. From a valuation point of view, but also did not reach the level of historical worst, and therefore the stock in the long-term investment value is still not have enough appeal.

    Lai Xu broadcast said that the main cost of Baosteel to 6.45 yuan, the current share price below the cost to run in the bottom of the area in recent years, showing stabilized and to build long-term signs at the bottom, it is estimated that in the medium term will gradually bottomed out, while uplink rate depends on the company s performance after the sale of assets changes.

The end of 2010, the three mines have bulletin new capacity put in the extension of the estimated 2011 new ore 90 million tons, much lower than prior to 130 million tons expected. From this, the demand is not a significant decline in the premise, the other taking into account the exchange rate appreciation of the resource-based countries, as well as ample liquidity in the global iron ore prices will remain high continue to rise, expected 2011 average price increase of about 10 %.
Under cost pressures, the iron and stainless steel pipe fittings enterprises have to enter the upstream investment in the overseas development of mining or exploration in the country to explore iron ore resources. In the stainless steel pipe fittings industry "12th Five-Year Plan, the iron and stainless steel pipe fittings enterprises overseas mining rights reach 40% of the iron ore imports.sanitary pipe fittings
According to statistics, in 2010 newly built production capacity of 49.4 million tons, of which more than half completed by the end of the formation of production in 2011; 2011 is expected the new production capacity 36 million tons. Taking into account the elimination of backward (2010-2011 each of 10 million t eliminate backward production capacity), built up to the end of 2010 the production capacity of about 750 million tons, the end of 2011 expected to be built production capacity reached 777 million tons. Production increased by 6%, capacity utilization is a slight upgrade, expected 2011 crude stainless steel pipe fittings production of 665 million t.sanitary fittings
Expected that the 2011 stainless steel pipe fittings prices will continue upward trend, and much is a steady upward trend. Eliminate backward production capacity surplus situation improved markedly since the second half of 2010, stainless steel pipe fittings prices have risen about 20 percent makes the stainless steel pipe fittings industry is expected in 2011 stainless steel pipe fittings prices will rise 8 percent to 10 percent.
Account for construction machinery products cost a Plate prices will also be relatively stable, the construction machinery industry, machine manufacturers and component manufacturers can lock the import prices of key components of scale, improve critical zero parts homemade proportions and price increases and other ways to offset the pressure of rising stainless steel pipe fittings prices, the 2011 public enterprise gross margin there may be room for growth.stainless steel pipe fittings