Chen Changyu, chairman of the Zhujiang steel pipe, said after the meeting of
Chen Changyu shareholders that the group will increase a straight sew pipe
production line each year in the next 3 years to increase production capacity by
300 thousand tons each year, one of which will be built in Panyu, and the
production capacity of the group will be raised by 900 thousand tons by 2012,
and the current capacity of the Zhujiang steel pipe is 1 million 150 thousand
tons.
Chen Chang also revealed that the company planned to invest less than 1
billion (RMB, the same) in Lianyungang (5.84,0.00,0.00%) to build a plant in
Lianyungang before 2012, which is expected to invest 750 million yuan this year,
while the group has no plans to merge, sell and buy.
As for the impact of the rising price of steel on the group, Chen Chang
responded when the price of steel was determined in the sales contract with the
customer, so the fluctuation of steel price had no effect on the group.