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2023-05-21 21:22:12

We need copper scrap material, if you can supply, please quote us the origin, specification, the most favorable price and the best payment term etc, hope that we can have chance to cooperate. Please send mail directly to dingshengtrade(AT)sina(DOT)com, thanks. Office number: 086-0539-8237003 8237628 Fax:086-0539-8237009 Tel:086-13355091128 Purchaser: Rongsheng Lee (Mr.)

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Hello friend,Our company needs 1 # bright copper wire, Grade A, pure strip, with wire diameter above 0.20mm and copper purity above 99.97%. More than 10000 metric tons per month, the destination port is Rizhao Port, China. A 5-year contract can be signed. Please send us a detailed offer to dingshengcompany@sina.com . thank you! Show More... Purchaser: RongSheng Lee

sir madam, Our company is China Linyi Dingsheng international Trade Co.,Ltd,we need used rails,copper wire scrap (1#bright copper wire,bare wire,class A)and copper cathode all the time.Please send me a detailed offer and the best CIF price to our email dingshengcompany@sina.com Show More... Purchaser: RongSheng Lee

Hi sir madam, Our company is China Linyi Dingsheng international Trade Co.,Ltd,we need used rails,copper wire scrap (1#bright copper wire,bare wire,class A)and copper cathode all the time.Please send me a detailed offer and the best CIF price to our email dingshengcompany@sina.com Show More... Purchaser: RongSheng Lee

Hi sir, Our company is China Linyi Dingsheng international Trade Co.,Ltd,we need used rails,copper wire scrap (1#bright copper wire,bare wire,class A)and copper cathode all the time.Please send me a detailed offer and the best CIF price to our email dingshengcompany@sina.com Show More... Purchaser: RongSheng Lee

Hi， sir Our company is China Linyi Dingsheng International Trade Co., Ltd., we need used rail， copper wire scrap (1# bright copper wire, bare wire, class a) and copper cathode all the time. Please send me a detailed offer and the best CIF price to our email dingshengcompany@sina.com Show More... Purchaser: RongSheng Lee

rongsheng lee supplier

HONG KONG, July 4 (Reuters) - Trading in shares of China Rongsheng Heavy Industries Group Holdings Ltd, China’s largest private shipbuilder, was suspended on Thursday in the wake of media reports that said it had laid off 8,000 workers in recent months.

No further details were available and China Rongsheng declined to comment, but analysts said the company’s balance sheet was under pressure. On Wednesday, its shares closed down 10 percent at HK$1.06.

“Moreover, Rongsheng has been suffering due to a major receivables past due problem, thus liquidity is a major concern. I think they are being forced to slash their workforce due to the extreme circumstances the company finds itself in.”

The Wall Street Journal said the job cuts at China Rongsheng represented some 40 percent of the firm’s workforce. The cuts sparked protests by workers earlier this week, according to media reports.

China Rongsheng is a major supplier of bulk carriers that ship iron ore from producer nations such as Brazil to China. Brazil’s Vale is one of its customers.

“We expect a continuing deterioration in the balance sheet given weak overall demand growth for bulk vessels, Rongsheng’s core product,” Barclays analyst Jon Windham said in a report.

According to its December 2012 annual report, issued on March 26, China Rongsheng’s cash and cash equivalents fell to 2.1 billion yuan ($342.53 million) from 6.3 billion yuan a year ago. It had borrowings of 16.26 billion yuan that were due in less than a year, said the report, the latest financial statistics available on the company’s website.

China Rongsheng is the country’s largest private shipbuilder by accumulated order books. It is based in eastern Jiangsu province, near Shanghai, and went public in Hong Kong in 2010.

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SINGAPORE, Oct 14 (Reuters) - Rongsheng Petrochemical, the trading arm of Chinese private refiner Zhejiang Petrochemical, has bought at least 5 million barrels of crude for delivery in December and January next year in preparation for starting a new crude unit by year-end, five trade sources said on Wednesday.

Rongsheng bought at least 3.5 million barrels of Upper Zakum crude from the United Arab Emirates and 1.5 million barrels of al-Shaheen crude from Qatar via a tender that closed on Tuesday, the sources said.

Rongsheng’s purchase helped absorbed some of the unsold supplies from last month as the company did not purchase any spot crude in past two months, the sources said.

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Guang Ouyang, Rongsheng Tong, Jinqi Li, Lan Bai, Liang Ouyang, Xingmei Duan, Fengqiong Li, Pin He, Jianyou Shi and Yuxin He performed the experiments. Jianyou Shi and Yuxin He designed the experiments, Guang Ouyang and Jianyou Shi wrote the paper. All authors took part in data analysis and discussion. All authors read and approved the final manuscript.

1. Goss P.E., Strasser-Weipp K., Lee-Bychkovskyet B.L. Challenges to effective cancer control in China, India, and Russia. Lancet. Oncol.2014;15:489–538. doi: 10.1016/S1470-2045(14)70029-4. [PubMed] [CrossRef]

HONG KONG, July 5 (Reuters) – China Rongsheng Heavy Industries Group, China’s largest private shipbuilder, appealed for financial help from the Chinese government and big shareholders on Friday after cutting its workforce and delaying payments to suppliers.

Hours after China Rongsheng made its appeal in a filing to the Hong Kong stock exchange, where the company is listed, Beijing vowed to bring about the orderly closure of some factories in industries plagued by overcapacity.

The statement by the State Council, or cabinet, laid out broad plans to ensure banks support the kind of economic rebalancing Beijing wants as it looks to focus more on high-end manufacturing. It did not mention any specific industries or companies and there was no suggestion it was referring to Rongsheng.

China Rongsheng said it was expecting a net loss for the six months that ended June 30 from a year earlier, according to the filing. It gave no figures.

Rongsheng shares plunged 16 percent to a record low in heavy turnover on Friday, leaving its market capitalisation at just under $1 billion. The Hang Seng Index climbed 1.9 percent. China Rongsheng is down 28.2 percent on the year.

In its filing, China Rongsheng said some workers had been made redundant, although it gave no numbers or timeframe for the losses. The company did not immediately respond to requests for more information.

China Rongsheng has said it won only two shipbuilding orders worth $55.6 million last year when its target was $1.8 billion worth of contracts. This year, it received orders to build two drilling rigs used in oil exploration, worth $360 million.

While the Chinese shipbuilding industry faced “unprecedented challenges”, China Rongsheng’s board was confident management could ease pressure on working capital in the near future and maintain normal operations, the company said in the filing.

According to its December 2012 annual report, issued on March 26, China Rongsheng’s cash and cash equivalents fell to 2.1 billion yuan from 6.3 billion yuan a year ago.

“The group is … actively seeking financial support from the government and the substantial shareholders of the company, and increasing its efforts in negotiations with its customers to maximise the collection of receivables,” China Rongsheng said in the filing.

A note from Macquarie Equities research said the statement highlighted the “severity” of China Rongsheng’s liquidity problems, adding this was not necessarily representative of the wider sector.

It said other listed Chinese shipyards were not as leveraged as China Rongsheng. The loan from Zhang was a surprise, it said, showing how badly the company needed cash.

“Rongsheng will need to address the problems immediately to reassure the market,” said Martin Rowe, managing director of Clarkson Asia Limited, a global shipping services provider.

The holding orders of Chinese shipyards dropped 23 percent in the first five months of this year compared with a year earlier, according to the China Association of the National Shipbuilding Industry. New orders dropped to a seven-year low in 2012. ($1=6.1258 yuan) (Additional reporting by Yimou Lee and Twinnie Siu in Hong Kong and Keith Wallis in Singapore; Editing by Dean Yates)

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Since Beijing appears intent on telling investors it is serious about changing the investment-led growth model of the world"s second-biggest economy and controlling a credit splurge, it may seem like the writing is on the wall for China Rongsheng Heavy Industries Group <1101.HK>.

Yet analysts say the government is more likely than not to judge that Rongsheng, which employs around 20,000 workers and has received state patronage, is too big and well connected to fail.

Supporting Rongsheng will not mean China"s economic reform plans are derailed, they say. Instead, it will mean reforms will be gradual and the government will cherry-pick firms it wants to support, which will exclude the small, private shipbuilders that have been folding in waves.

"Rongsheng is a flagship in the industry," said Lawrence Li, an analyst with UOB Kay Hian in Shanghai. "The government will definitely provide assistance if companies like this are in trouble."

Analysts say Rongsheng is possibly the largest casualty of a sector that has grown over the past decade into the world"s biggest shipbuilding industry by construction capacity. Amid a global shipping downturn, new orders for Chinese builders fell by half last year. In Rongsheng"s case, it won orders worth $55.6 million last year, compared with a target of $1.8 billion.

Rongsheng appealed for government aid on Friday, saying it was cutting its workforce and delaying payments to suppliers to deal with tightened cash flow.

In the prospectus for its initial public offer, Rongsheng said it received 520 million yuan of subsidies from the Rugao city government in the southern province of Jiangsu, where the company is based.

The state funds paid for research and development of new types of vessels, and were based in part on the "essential role we play in the local economy", Rongsheng said.

As the world"s largest shipbuilder, it had 1,647 shipyards in 2012, data from China Association of the National Shipbuilding Industry showed. Over 60 percent of its shipbuilders are based in Rongsheng"s province of Jiangsu.

Despite this, the government is providing support for the industry, a sign it will also support Rongsheng given its prominence in the sector, analysts said.

Analysts say what separates Rongsheng from many other companies are its connections with the government and state banks. Rongsheng"s Chief Executive Chen Qiang, for example, enjoys "special government allowances" granted by China"s cabinet, the firm"s annual reports say.

Rongsheng also said in its IPO prospectus that it has two five-year financing deals with Export-Import Bank of China that end in 2014 and in 2015, and a 10-year agreement with Bank of China <3988.HK> starting from 2009.

After all, local government coffers will suffer the biggest blow if Rongsheng goes bust. The firm had 168 million yuan of deferred income taxes in 2012.

rongsheng lee supplier

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