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China stocks: General Steel Holdings (GSI)-delisting

General Steel Holdings, Inc. (NYSE: GSI) is headquartered in Beijing with 8,505 full-time employees. It is a leading private steel production company headquartered in Beijing, China. The company has production plants in Tianjin, Shaanxi and Guangdong, China, with an annual crude steel production capacity of 7 million tons. The company’s products mainly include rebar and high-speed wire rod.

General Steel logo

General Iron and Steel (GSI):

General Steel has established a wholly-owned and two joint venture steel companies, namely: Tianjin Daqiuzhuang Sheet Co., Ltd., Baotou Steel-General Steel Special Steel Joint Venture Co., Ltd. and Shaanxi Longmen Steel Co., Ltd. The overall annual production capacity is 3.5 million tons.

The main goal of General Steel is to acquire state-owned steel companies with good operating efficiency in China. On the one hand, the development of General Steel relies on acquisitions and mergers to rapidly expand the company’s scale; on the other hand, it improves the company’s production capacity and economic efficiency by improving and developing the acquired companies.

The company’s business in the non-steel field has expanded to the Internet of Things industry, including the design, manufacturing and system integration of radio frequency identification (“RFID”) electronic tags. The company’s RFID technology can provide real-time data for supply, inventory, and cargo management, strengthen and improve user management and planning processes, as well as asset tracking and supply chain management.

General Steel (GSI) investment:

General Steel began to go public in the United States in 2004. It is a Chinese concept stock and has no relationship with General Dynamics , General Electric and other general companies. General Steel represents a decadent and backward production capacity, and it is estimated that it is not far from delisting.

latest news:

On December 30, 2015, General Steel’s board of directors approved the sale of its wholly-owned steel subsidiary Shaanxi Longmen Iron and Steel Company to a subsidiary of Victory Energy Resource Limited for a price of US$1 million, which was carried out in accordance with the assets and liabilities of the third party. After the assessment, it is believed that the company’s net worth is negative, that is to say, the GSI transaction is profitable.

After the sale of the steel business, GSI holds 84.5% of the US clean energy company Catalon Chemical, which develops and produces De-NOx honeycomb catalysts and industrial ceramics. It is a veritable clean energy company. Its honeycomb technology is an important part of selective catalytic reduction (SCR). It is widely used in steel plants, thermal power stations, waste incineration, stationary diesel engines, industrial power stations and heavy trucks. .

Stimulated by this news, GSI closed up 72.29% on December 30, and surged again by 105.76% on January 4, 2016, and doubled again in intraday on January 5, 2016.

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