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    2002   TW0002002003

CHINA STEEL CORPORATION

(2002)
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China Steel : The 16th meeting of the 17th Board of Directors of China Steel Corporation (CSC)...

09/29/2021 | 03:32am EST

Date2021/09/29

The 16th meeting of the 17th Board of Directors of China Steel Corporation (CSC) was held on September 24, 2021. Major resolutions were:

1.For embracing the trend of global carbon neutrality and stimulating green industry significantly, capital expenditure of China Steel Power Holding Corporation was approved.
The board of directors approved capital expenditure of up to NT$5.5135 billion, which is for China Steel Power Holding Corporation with Copenhagen Infrastructure Partner(CIP) in accordance with the develop progress and capital demand of Zone 29 offshore wind farm(Zhong Neng Project).
Zhong Neng Project has been selected by Ministry of Economic Affairs and allocated a grid-connected capacity of 300MW in 2024. CSC's participation in Zhong Neng Project not only strives for the multivariate steel sale, the potential business opportunities and localization expansion of offshore wind power industry, but also implements the promotion of green industry business development of CSC.

2.Fund endowment for CSC Group Education Foundation in 2021
CSC Group Education Foundation (the Foundation) was established through CSC's fund endowment. Each year, CSC Group endows the Foundation's needed fund; in 2021, CSC endows the Foundation with NT$12.542 million.

3.The appointment of Vice President of Administration Division
Assistant Vice President of Administration Division Mr. I-Chung Huang has been promoted as Vice President of Administration Division and his appointment was effective on September 24, 2021.

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CSC - China Steel Corporation published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 07:31:06 UTC.


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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 33,90 TWD
Average target price 40,97 TWD
Spread / Average Target 20,8%
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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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