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Non-Energy Minerals

China Steel Corp.

Company Background

Headquartered in southern Taiwan city of Kaohsiung, China Steel was founded by the Taiwan government in December 1971 to boost the development of various industries in Taiwan.

It became a listed company in 1974, and the government started to sell its stake in the company in 1989, but China steel remains a government-controlled entity.

The company sells steel plates, bars, wire rods, and hot and cold rolled coils. The Taiwan market accounts for more than half of China Steel's sales, and the steel maker exports mainly to China, Japan and Southeast Asia.

Chairman Sung Jyh-yuh has a master's degree in mechanical engineering from National Taiwan University. He is a China steel veteran who started working for the company in 1977.

Business Summary

China Steel Corp. manufactures iron and steel products. The firm engages in the design, manufacture, sale, trading, and storage of steel products; preparation for the construction of steel plant; as well as the provision of consultation services for the management of steel and iron projects. Its key products include crude steel, steel plates, steel bars, wire materials, hot-rolled coils, cold-rolled coils, electro-galvanized steel coils, electromagnetic steel coils, and hot-dip galvanized steel coils. The company was founded on December 3, 1971 and is headquartered in Kaohsiung, Taiwan.

Financial Highlights

Dec 2021 TWDUSD
Revenue468,327.50M16,766.77M
Gross Profit97,198.84M3,479.85M
Operating income83,137.20M2,976.42M
Income before tax83,235.79M2,979.95M
Net income62,053.03M2,221.58M
EBITDA115,816.64M4,146.39M
Diluted EPS3.980.14
Dividends Per Share3.100.11
Total Assets687,994.96M24,866.98M
Total liabilities301,039.94M10,880.83M
Total equity349,028.76M12,615.34M
Operating cash flow74,304.42M2,660.20M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 347,012.00M 400,665.05M 366,240.73M 314,783.30M 468,327.50M
Gross Profit 38,681.12M 48,969.33M 25,865.03M 13,258.94M 97,198.84M
Operating income 26,007.98M 35,354.03M 12,413.22M 2,217.52M 83,137.20M
Income before tax 23,727.61M 31,735.51M 12,192.23M 2,184.91M 83,235.79M
Net income 16,905.58M 24,454.15M 8,809.55M 885.86M 62,053.03M
EBITDA 60,730.08M 69,656.49M 47,766.51M 35,677.59M 115,816.64M
Diluted EPS 1.09 1.57 0.56 0.05 3.98
Dividends Per Share 0.88 1 0.50 0.30 3.10
Total Assets 667,715.87M 674,526.59M 666,631.98M 636,082.69M 687,994.96M
Total liabilities 335,763.89M 331,728.87M 334,417.47M 312,975.71M 301,039.94M
Total equity 304,010.06M 312,908.03M 302,558.53M 293,298.94M 349,028.76M
Operating cash flow 46,739.93M 60,001.06M 38,626.87M 61,809.82M 74,304.42M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 11,406.34M 13,287.08M 11,847.57M 10,690.72M 16,766.77M
Gross Profit 1,271.45M 1,623.94M 836.71M 450.30M 3,479.85M
Operating income 854.88M 1,172.43M 401.55M 75.31M 2,976.42M
Income before tax 779.93M 1,052.43M 394.40M 74.20M 2,979.95M
Net income 555.68M 810.96M 284.98M 30.08M 2,221.58M
EBITDA 1,996.20M 2,309.98M 1,545.20M 1,211.68M 4,146.39M
Diluted EPS 0.03 0.05 0.01 0.00 0.14
Dividends Per Share 0.02 0.03 0.01 0.01 0.11
Total Assets 22,437.82M 21,945.10M 22,238.11M 22,638.00M 24,866.98M
Total liabilities 11,282.95M 10,792.49M 11,155.80M 11,138.71M 10,880.83M
Total equity 10,215.90M 10,180.17M 10,093.02M 10,438.42M 12,615.34M
Operating cash flow 1,536.35M 1,989.79M 1,249.54M 2,099.19M 2,660.20M

Valuation Measures

Dec 2021
PER8.80
ROA9.37%
ROE19.32%
Operating margin17.75%
Profit margin13.24%

Key executives

  • General Manager & Director: Hsi Chin Wang
  • Vice President-Technology Division: Jih-Jau Jeng
  • Director & Executive Vice President: Chien Chih Hwang
  • Vice President-Administration Division: I-Chung Huang
  • Section Manager: Wen-Ping Huang

Shareholders

  • Government of Taiwan (20.0%)
  • The Vanguard Group, Inc. (2.5%)
  • BlackRock Fund Advisors (1.8%)
  • Yuanta Securities Investment Trust Co., Ltd. (1.8%)
  • Norges Bank Investment Management (1.1%)
  • Dimensional Fund Advisors LP (0.8%)
  • BlackRock Advisors (UK) Ltd. (0.7%)
  • Maruichi Steel Tube Ltd. (0.4%)
  • Geode Capital Management LLC (0.3%)
  • Amundi Asset Management SA (Investment Management) (0.2%)

Contact Details

  • Website:http://www.csc.com.tw
  • Address: 1, Chung Kang Road, Hsiao Kang District, Kaohsiung City, 812 33, Taiwan
  • Phone: +886.7.8021111

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Competitors

  • Tycoons Group Enterprise Co., Ltd.
  • Kaori Heat Treatment Co., Ltd.
  • Quintain Steel Co., Ltd
  • China Steel Chemical Corporation
Last Updated on 26 Sep, 2022

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