Company Profile For Shougang Concord International Enterprises Co Ltd

Shougang Concord International Enterprises Company Limited is a Hong Kong-based investment holding company. The Company operates in four segments: steel manufacturing, shipping operations, steel trading and others. The steel manufacturing segment manufactures and sells steel products. The shipping operations segment includes vessel chartering and the leasing of floating cranes. The Company’s steel trading segment is engaged in the trading of steel products. Others include management services business. The Company’s subsidiaries include Central Pro Investments Limited, Cheer Source Limited, Equity Dragon Assets Limited, Standnew Limited, Profit News Investments Limited and Shougang Concord Steel Holdings Limited. On June 12, 2008, the Company disposed Ultra Result Limited, which carried out its electricity generation operation. During the year ended December 31, 2008, the Company acquired Chagou Iron Ore Mine.

BRIEF: For the six months ended 30 June 2009, Shougang Concord International Enterprise Company Limited's revenues decreased 32% to HK$5.59B. Net loss from continuing operations totaled HK$872.5M, vs. an income of HK$1.08B. Revenues reflect decreased income from Steel manufacturing and lower contribution from Shipping operations segments. Net loss reflects increased cost of sales, higher finance costs and a decrease in other income.

Shougang Concord International Enterprises Co Ltd
7th Floor, Bank of East Asia
Harbour View Centre
56 Gloucester Rd, Wanchai
   

3900