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    2002   TW0002002003


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Announcement for acquisition of the Bulk Carrier on behalf of subsidiary CSE Transport Corporation

11/11/2021 | 03:18am EST
Today's Information

Provided by: China Steel Corporation
SEQ_NO 2 Date of announcement 2021/11/11 Time of announcement 13:51:17
 Announcement for acquisition of the Bulk Carrier
on behalf of subsidiary CSE Transport Corporation
Date of events 2021/11/11 To which item it meets paragraph 20
1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City): 208,000DWT Bulk Carrier
2.Date of occurrence of the event:2021/11/11
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
 (1)Transaction unit amount: one carrier
 (2)Total transaction price: around NT$ 1,200 million
4.Trading counterparty and its relationship with the Company (if the trading
counterparty is a natural person and furthermore is not a related party of
the Company, the name of the trading counterparty is not required to be
disclosed): CSE; parent company of CSE Transport Corporation
5.Where the trading counterparty is a related party, announcement shall also
be made of the reason for choosing the related party as trading counterparty
and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of
transfer: For business development
6.Where an owner of the underlying assets within the past five years has
been a related party of the Company, the announcement shall also include the
date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction:
 CSE purchased the vessel from Japan Marine United Corporation for
 US$ 46.00 million on OCT 31, 2019
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition):NA
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions: According to the contract
9.The manner of deciding on this transaction (such as invitation to tender,
price comparison, or price negotiation), the reference basis for the
decision on price, and the decision-making unit:
 Manner of deciding on this transaction: price negotiation
 Decision-making unit: Board of Directors
10.Name of the professional appraisal firm or company and
its appraisal price:NA
11.Name of the professional appraiser:NA
12.Practice certificate number of the professional appraiser:NA
13.The appraisal report has a limited price, specific price,
or special price:NA
14.An appraisal report has not yet been obtained:NA
15.Reason for an appraisal report not being obtained:NA
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:NA
17.Name of the CPA firm:NA
18.Name of the CPA:NA
19.Practice certificate number of the CPA:NA
20.Broker and broker's fee:NA
21.Concrete purpose or use of the acquisition or disposal:
  For business development
22.Any dissenting opinions of directors to the present transaction: None
23.Whether the counterparty of the current transaction is a
related party: Yes
24.Date of the board of directors resolution:2021/11/11
25.Date of ratification by supervisors or approval by
the audit committee:NA
26.The transaction is to acquire a real property or right-of-use
asset from a related party: No
27.The price assessed in accordance with the Article 16 of the
Regulations Governing the Acquisition and Disposal of Assets
by Public Companies:NA
28.Where the above assessed price is lower than the transaction price,
the price assessed in accordance with the Article 17 of the same
29.Any other matters that need to be specified: None


CSC - China Steel Corporation published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 06:16:02 UTC.

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Net income 2021 62 162 M 2 251 M 2 251 M
Net Debt 2021 137 B 4 951 M 4 951 M
P/E ratio 2021 8,71x
Yield 2021 7,84%
Capitalization 533 B 19 313 M 19 314 M
EV / Sales 2021 1,44x
EV / Sales 2022 1,42x
Nbr of Employees 28 490
Free-Float -
Duration : Period :
China Steel Corporation Technical Analysis Chart | 2002 | TW0002002003 | MarketScreener
Technical analysis trends CHINA STEEL CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 34,60 TWD
Average target price 40,63 TWD
Spread / Average Target 17,4%
EPS Revisions
Managers and Directors
Hsi Chin Wang General Manager & Director
Shih Hsin Chen Head-Finance & General Manager-Finance
Chao Tung Weng Chairman
Yi Xing Huang Vice President-Technology
Chiu Po Chang Vice President-Administration
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