Yongjin Vietnamese subsidiaries intend to vote for US $ 125 million to build 260,000 tons of precision stainless steel band projects

In order to implement the strategy of actively developing overseas business, expand the company's overseas influence, and enhance the company's overall profitability, on April 13, 2023, the 34th meeting of the 5th board of directors of Zhejiang Yongjin Metal Technology Co., Ltd. The "Proposal on New Projects of Subsidies", agreed that the company was tentatively scheduled to implement the "annual processing of 260,000 tons of precision stainless steel bands" project through its own funds investing in its own funds. The main body of implementation is Vietnam Jinzizi Company Xinyue Metal Technology Co., Ltd. The project plans to build an annual output of 180,000 tons of 300 lines and 2B wide -width production lines and 1 annual output of 80,000 tons 300 series/400 series BA production line. The project is built in three phases, and the fixed investment in the project is about 125 million US dollars.

Bloomberg: China will release domestic steel enterprises in April

Cited Bloomberg News that China will release domestic steel enterprises in April to limit production restrictions on production, requiring domestic steel manufacturers to maintain the output of 2023 in 2022, in response to the mild recovery of demand after the epidemic. Carbon emissions in the steel industry account for about 15%of the national carbon emissions, second only to power generation. In terms of striving to reduce carbon emissions and fulfill the climate commitment, the Chinese government has long regarded the steel industry as its important carbon emission constraints. Last year, the impact of the epidemic on the economy and the downturn cycle of the real estate market also had an important impact on the steel industry. At present, the China National Development and Reform Commission has not responded to Bloomberg's request for comment.
The momentum of the Asian stainless steel market is further enhanced

Comprehensive platform media news on April 13, 2023, after the stainless steel market in mainland China has been active, other Asian regions, especially Taiwan, are now increasing the price of stainless steel. This is likely to attack North and Europe soon. The US financial report season brings hope for the dynamic growth of profits. India has expanded countermeasures for China's stainless steel exports.

The output of stainless steel last year was 2.4744 million tons of net profit decreased by 17.67% year -on -year

Yongjin announced the annual report of 2022, with operating income of 39.555 billion yuan, a year -on -year increase of 26.11%, net profit of 487 million yuan, a decrease of 17.67%year -on -year, and a non -net profit of 457 million yuan, a decrease of 19.09%year -on -year. The basic earnings per share were 1.45 yuan. , A cash dividend of 5 yuan is distributed to all shareholders.
In 2022, the company's product production and warehouse output was 2.4744 million tons, an increase of 15.95%year -on -year; the company's products sold for a year -on -year sales of 2.4736 million tons, an increase of 17.98%year -on -year; in 2022, the company's business income was 39.555 billion yuan, a year -on -year increase of 26.11%; The sales volume of cold rolling 300 series 2B products was 1.9976 million tons, and the sales volume accounted for 80.76%; wide -width cold rolling 400 series BA products sold 214,200 tons, sales accounted for 8.66%; wide -width cold rolling 300 series BA products sold 20,500 tons, with 20,500 tons of products. Sales accounted for 0.83%; precision cold rolling 300 series sales were 98,600 tons, and sales accounted for 3.99%; precision cold rolling 400 series sold 65,300 tons, and sales accounted for 2.64%.
Tamsui River Valley: It is expected that the global nickel market will remain slightly excess this year

On April 13, a report submitted to the US Securities and Exchange Commission submitted to the US Securities and Exchange Commission showed that it is expected that the global nickel market will remain slightly excess in 2023, mainly due to the supply of II nickels for stainless steel raw materials.