SANGANG MINGUANG(SZ:002110)2022-12-03 10:58Group 1: Company Performance - In the first half of 2019, the company met its production and operational targets as planned, achieving a "time is half, task is half" goal [2] - The steel industry faced profit shrinkage due to rising raw material prices, but the company maintained stable operations and strong profitability [3] Group 2: Capacity Acquisition - The company successfully acquired 1 million tons of iron and 1 million tons of steel production capacity from Shandong Steel Xinjiang, with asset transfer completed [3] - The acquisition of Luoyuan Mingguang is in progress, with plans to resolve compliance issues and complete the acquisition within approximately 100 days [4] Group 3: Raw Material Procurement - The company sources approximately 80% of its iron ore from imports, with a procurement strategy to mitigate the impact of rising prices [5] - The current scrap steel price in Fujian is around 2,700 RMB/ton, which is higher than the cost of molten iron [6] Group 4: Cost Control and Efficiency - The company aims to keep processing fees for production processes below the average level of January to July 2018, while actively reducing non-production costs [8] - The company has implemented a three-year plan for ultra-low emissions, with an investment of 500 million RMB planned for 123 projects [9] Group 5: Dividend and Shareholder Returns - In May 2019, the company announced a cash dividend of 2 RMB per 10 shares, totaling approximately 3.27 billion RMB, and a capital reserve increase of 5 shares for every 10 shares held [8] - The cash dividend for 2018 accounted for 50.24% of the net profit attributable to shareholders [9]