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Dongbei Special Steel
Dongbei Special Steel Group Co., Ltd. is a state-owned enterprise based in Dalian, Liaoning Province (the south most city of Northeastern China or Dongbei). It was owned by State-owned Assets Supervision and Administration Commission (SASAC) of the Provincial Government of Liaoning (46.1230%) and Heilongjiang (14.5191%), as well as a subsidiary of Liaoning SASAC (22.6839%) and China Orient Asset Management (16.6740%).[1] The company was formed by the merger of Dalian Special Steel (aka Liaoning Special Steel Group) and Beiman Special Steel Group (literally North Manchuria Special Steel) in 2004. Dongbei Special Steel became the holding company of the two steel maker, plus Fushun Special Steel, a subsidiary of Liaoning Special Steel Group.[1] In 2016 the enterprise defaulted[2] several times. Chairman Yang Hua committed suicide in March 2016, four days before the first default.[3] Subsidiaries
Equity investmentDongbei Special Steel owned 38.58% stake in Fushun Special Steel (Chinese: 抚顺特殊钢股份有限公司), based in Fushun, Liaoning, as the largest shareholder. The shares of the company float in Shanghai Stock Exchange.[4] References
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