Corporate snapshots: Baoshan Iron & Steel Co
Background: In spite of a stimulus package introduced by the government, the overall steel sector in China has been plagued by overcapacity, high fragmentation, high raw material prices and low profitability, explains Chen Ying, vice president and board secretary of Baoshan Iron & Steel Co. ‘Although we outperformed the sector by a great margin, investors were skeptical about steel stocks as a whole and lack enthusiasm,’ she says.
From January to November 2010, Baoshan conducted 354 investor meetings. That translates into 144 company visits, 168 meetings at investment conferences and 42 conference calls, as well as four web calls and a non-deal roadshow.
‘We consider maximizing shareholders’ value to be the ultimate goal of all IR activities, and we treat every investor inquiry and every investor meeting with sincerity and earnestness,’ Chen explains.
Domestic and international investors have easy access to IR contacts and company information through structured channels such as annual reports, factbooks, an investor hotline, emails, IR columns on the company website, analyst meetings and investor conferences. In 2011 the company plans to organize more non-deal roadshows with senior management.
Baoshan now holds twice-yearly post-results analyst meetings, attended by the chairman of the board, president and other senior management. These members of senior management hold in-depth discussions on a broad range of industry topics and interact with participants. The company also holds quarterly post-results online roadshows allowing senior management to answer investors’ questions on media platform www.p5w.net.
Baoshan further holds quarterly post-results conference calls with senior management and it added a webcast feature to the company’s IR website in 2010. Investors can watch videos of analyst meetings with animated presentation slides. All the IR presentation materials are published on the company’s website in both Chinese and English.