Shanghai Securities News (Reporter Wang Zilin) On June 6, Sinosteel Luonai Technology Co., Ltd. (hereinafter referred to as “Sinosteel Luonai”), a subsidiary of Sinosteel Group, was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The price is 5.06 yuan per share, and the total amount of funds raised is 1.1385 billion yuan. As of press time, the company’s stock rose 156.92%, and the price per share was 13.00 yuan.
Sinosteel Luonai was founded in 1958. It is the first large-scale state-owned refractory production enterprise designed and constructed by itself during the “First Five-Year Plan” period of the People’s Republic of China. In recent years, Sinosteel Luonai has thoroughly implemented the relevant requirements of the SASAC Party Committee, actively adapted to the major changes in the industry brought about by the supply-side structural reform, took the implementation of the three-year action of state-owned enterprise reform as an opportunity, and aimed to “create a world-class refractory material enterprise” , promote the implementation of the “three-step” strategic measures of resource integration, restructuring and listing, mergers and acquisitions, implement the two-wheel drive of technological innovation and capital operation, and gradually enter the fast lane of high-quality development.
Sinosteel Luo Nai takes strategic planning as the lead, integrates resources, optimizes layout, and strives to build and enhance core competitiveness. In December 2019, Sinosteel Luonai and Sinosteel Luonai Institute carried out the “two resistance” professional reorganization, realized a strong alliance, and gave full play to the synergistic effect. After the reorganization, the company strives to build a production, R&D, and innovation base that leads the high-quality development of the refractory industry, realizes the strategic layout of actively expanding the emerging material industry, and utilizes the technology and system integration advantages in key high-temperature materials, engineering design, branding, etc. , vigorously expand new business models such as engineering general contracting, consumable material general contracting and contract energy management, and realize the transformation from a single high-temperature material manufacturer to a high-temperature industry system integration, comprehensive supporting and system-wide solution service provider. At the same time, it insists on relying on the State Key Laboratory of Advanced Refractory Materials, focusing on serving the high-temperature industry, and giving full play to the role of a scientific and technological innovation platform for production, learning, research and application, adding new momentum for development.
Since then, Sinosteel Luonai has actively and steadily promoted the mixed-ownership reform and listing, and improved the market-oriented operation mechanism. Taking the recognition of corporate culture and values as the precondition, the upstream and downstream suppliers and well-known investment funds were fully investigated, and 6 strategic investors were finally selected, 750 million yuan was introduced, and 38.5% of the equity was released. Simultaneous implementation of key employee shareholding, key employees realize shareholding at the same price with strategic investors through capital increase, and 500 key post backbones hold 9.82% of the shares through the shareholding platform, effectively forming a community of interests, careers and destiny . At the same time, guided by the principle of “seeking the poor by benchmarking and creating the first-class”, the tenure system and contractual management of the managers were fully implemented, the performance appraisal of all employees and the application of appraisal results were strengthened, and the reform of the three systems was deepened, which further stimulated the vitality of the enterprise.
In the next step, Sinosteel Luo Nai will operate in strict accordance with the governance requirements of listed companies and improve the standardization and scientificity of company decision-making. Actively organize the implementation of investment projects with raised funds, vigorously expand domestic and foreign markets and product areas, and continuously improve the company’s profitability. Always cherishing the greatness of the country, adhering to the concept of green, low-carbon and sustainable development, strengthening the construction of talent team, strengthening the drive of scientific and technological innovation, based on high temperature industry, actively expanding the strategic emerging material industry, and creating system integration and comprehensive supporting of high temperature industrial refractory materials And system solution service providers, leading the high-quality development of the refractory industry.Return to Sohu, see more
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