rongsheng nigeria in stock

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 16 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million (8.2 million pounds) from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

In a filing with the Hong Kong stock exchange, Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

Rongsheng, controlled by Zhang, also issued a profit warning on Monday, saying first-half earnings would fall sharply as a result of the shipbuilding downturn.

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 18 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

On Monday, Rongsheng shares dropped as much as 18 percent to HK$1.15, a record low, leaving the company with a market capitalization of just over $1 billion. The company also issued a profit warning, saying first-half earnings would fall sharply as a result of a global shipbuilding downturn, a factor that has already pushed its shares down more than 75 percent in the past year.

Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said in a Hong Kong filing that it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

In order to follow the development of times and to response to the national policy of “ The Belt and Road Initiative”,Fujian Rongsheng have successfully set up a lot of projects in the domestic as well as other countries like Indonesia, Malaysia, Singapore, Nigeria and Saudi Arabia and so on. Such as Dongguan Jinwei traditional Industrial Park, Dongguan Boqi Industrial ltd, Jiangxi Bopai Luggage Industrial Park, Fujian Bosheng Creative Industrial park, Indonesia Luggage Ltd, Nigeria Yanuo Industry LTD, Nigeria Time Ceramics Ltd, Nigeria Rongsheng Glass ltd,Nigeria Rongtai Aluminum Ltd, Nigeria Rongtai Wood Ltd, Pakistan Times Ceramics Ltd, Jisheng International Ceramic Company in Jordan, Bunyan in Industrial Ltd in Saudi Arabia, and other enterprises. Among of them,Nigeria and Saudi Arabia are the important development areas..

Since 2009, we have invested more than six hundred million dollars in African countries, and has successfully set up enterprises such as Rongsheng Glass, Rongtai Aluminum, Rongtai Wood and Time Ceramics and others in Nigeria. In order to provide an ideal and comfortable working and living environment for overseas Chinese, Fujian Rongsheng has invested a huge amount of money to build the largest, most beautiful and most well-equipped Rongtai Industrial Park in Nigeria, which has also attracted many other enterprises to settle there. Today, Fujian Rongsheng has become a bridge linking investment and economic construction of Chinese and African enterprises.

In 2021, Fujian Rongsheng started to invest in the Middle East, and has invested more than two hundred million dollars to establish Bunyang Industrial Ltd so far. in Alkaj Industrial Park of Riyadh, the capital of Saudi Arabia. We uses its advantages of high production capacity, stable quality and variety to provide high-quality ceramic products to customers in the Gulf Region.

RONGSHENG GLASS NIGERIA LIMITED was incorporated in EDO, Nigeria with Registration Number 1342279. It was registered on 15 Jun 2016 and it"s current status is unknown. Company"s registered office address is WARD 8 UTESI COMMUNITY BENIN CITY.

RONGSHENG PETRO CHEMICAL CO., LTD. is located in Yinong Town, Xiaoshan District, Hangzhou near Xiaoshan Airport and China Light Textile City. Its predecessor is Rongsheng Chemical Fiber Co.,Ltd., established in 1995. It topped the list of fiber enterprises in China, is one of China’s top 500 enterprises and Zhejiang’s top 100 enterprises. In Septem, 2007, it was approved to be restructured into a stock limited.

Christened Vale Jiangsu and Vale Shinas, the two new Rongsheng-built 380,000 DWT class VLOCs have been delivered to Vale S.A. and Oman Shipping Company S.A.O.C. respectively.

Rongsheng say that the vessels adopt an environmentally friendly design to achieve lower oil consumption and reduce the emission of CO2, while operating efficiency exceeds that of most existing ore carriers. With Energy Efficiency Design Index recorded at approximately 1.99 during sea trials, Rongsheng-built VLOCs are in line with low-carbon green product initiative and meet the benchmark requirements on emission reduction set by International Maritime Organization, which came into effect as of 1 January 2013.

At this time, China Rongsheng Heavy Industries has delivered ten VLOCs (with one completed in 2011, six in 2012 and three in 2013) out of the 16 380,000 DWT class VLOCs ordered.

The shipbuilders add that the four VLOCs ordered by Oman Shipping Company S.A.O.C. have all been delivered. Despite ongoing challenges in the shipbuilding industry brought about by the global financial crisis and the European debt crisis, the delivery schedule of China Rongsheng Heavy Industries has not been unduly impacted.

Rongtai Aluminum (Nigeria) Co., Ltd specialize in manufacturing all sorts of aluminum profiles, including building aluminum profiles and industrial aluminum profiles. Located in Benin City, Edo State, Nigeria, we have the geological advantage of convenient transportation and business center.

Being a branch of Rongsheng Group Investment Co., Ltd, Rongtai Aluminum was established in October, 2017. Currently the product manufactured by Rongsheng Group Investment Co., Ltd has been renowned not only in Nigerian market, but also in the whole African market, of which includes Time Ceramics, RS Glass, Rongtai Aluminum, etc.

As a large-scale Chinese investment group company in Nigeria, Rongtai also has a rather complete and mature quality control system to make sure that each batch of the profile is above the international standard so that we can meet the satisfaction of every end user. Following the slogan “Rongtai Aluminum, Great Aluminum”, we deem quality as the lifeline to our development. To guarantee the high quality of our product, we import high quality billet and ingot, as well as the high-class coating powder. Moreover, conducted by experienced and professional technicians, our testing lab covers hardness test, coating adhesion test, tensile test, etc.

Rongtai started mass production in April, 2018, and more than 60% of Nigerian market share has been taken within one year. Our main distributors have established and maintained a stable and reliable relationship since the beginning of the foundation. With the common goal and strong belief we share with our long-term cooperators, we have full confidence and faith to make “ Rongtai” to be not only a leader in aluminum industry, but also a renowned brand across the whole Africa.

.With an experience of more than 2 years production and sales in Nigerian market, currently we made an expansion on the extrusion machine in the production department starting from the month of February 2020. Two additional extrusion machines has been assembled and installed, with a total extra output of 600 tons being expected.

Due to the increase in machine in the company, more than 55 top experienced technical engineers and about 300 local staff are employed in order to ensure the best quality of our product and to easily spread our product to every part of Nigeria.

Above is the description of our Nigerian customer’s demand. If you are interested in graphite electrodes, please leave message and let us know your requirements. Our technical engineers will provide you with an immediate quotation.If you are involved in this field for the first time, we will recommend the most suitable solution for you!

China"s Rongsheng Petrochemical bought 6 million barrels of Abu Dhabi"s Murban and Upper Zakum crude via a tender awarded late on Thursday, traders said.

China"s Rongsheng has bought 2 million barrels of Upper Zakum from ADNOC at $2.2 a barrel above Dubai quotes and 2 million barrels of Murban from Total at $4 a barrel above Dubai quotes for end-November delivery, trading sources said.