Guisheng Co., Ltd. plans to invest 30 million yuan to establish a wholly-owned subsidiary

Radar Finance | Written by Yang Yang | Edited by Li Yihui

On March 6th, Guisheng Co., Ltd. (Stock Code: 600992) announced that the company plans to establish a wholly-owned subsidiary, Guizhou Steel Rope and Cable Technology Co., Ltd., with an investment of 30 million RMB.

This investment aims to align with the company’s overall technological upgrades, relocations, and development needs, to specialize and build out its business segments, quickly form new economic growth points, and cultivate a team with a stronger market awareness and deeper understanding of cable and wire products. It will help the company deepen its presence in the engineering construction market, explore and realize innovative operational mechanisms, and transform its product structure.

This investment has been approved by the company’s 9th Board of Directors at the 7th meeting and does not require shareholder approval.

According to Tianyancha, Guisheng Co., Ltd. was established on October 19, 2000, with a registered capital of 245.09 million RMB. The legal representative is Ma Xianhong, and the registered address is No. 47, Taoxi Road, Honghuagang District, Zunyi City, Guizhou Province. Its main business includes research, production, processing, and sales of steel wires with diameters ranging from φ0.15mm to 9.0mm for various uses, steel ropes with structures from φ0.6mm to 264mm, prestressed steel strands, and related equipment, materials, and technology, as well as import and export operations. The company also develops high-tech products and provides technical services.

Currently, the company’s chairman is Ma Xianhong, the secretary of the board is Cao Lei, with 3,442 employees. The actual controlling shareholder is the State-owned Assets Supervision and Administration Commission of Guizhou Provincial Government.

The company has one associated company, including Guizhou Bank Co., Ltd.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 2.387 billion, 2.189 billion, and 2.145 billion RMB, respectively, with year-over-year changes of -5.63%, -8.30%, and -1.99%. Net profit attributable to shareholders was 23.06 million, 33.89 million, and -32.66 million RMB, with year-over-year growth rates of -25.70%, 48.38%, and -196.37%. During the same period, the company’s asset-liability ratio was 55.80%, 55.18%, and 55.84%.

Regarding risks, Tianyancha data shows the company has 15 internal Tianyan risks, 1,327 surrounding risks, 62 historical risks, and 154 warning alerts.