Ye Chiu Group to List on Shanghai Stock Exchange in 2011

Asian major secondary aluminium alloy maker, Ye Chiu Group in China plans to list on Shanghai Stock Exchange (SSE) in 2011. Ye Chiu Group is expected to become the first listed company on SSE as Chinese secondary aluminium alloy maker. The Group aims to accelerate share expansion in Asian countries including Japan by reinforcement of money raising capacity by listing on SSE.

Listing on SSE requires the company to post annual profit for 3 straight years. Ye Chiu Group’s official person explained to Japan Metal Bulletin the Group sustained the annual profit in 2008 despite of serious price and demand downturn after Lehman’s Shock. In 2009, the firm increased its market shares mainly in China and Japan. In 2010, the Group expects for record sales and profits.

Ye Chiu Group will be able to raise fund from SSE to construct new large plants. The Group plans to start construction of a new plant in Malaysia in March 2011 with capital expenditure at approximately 200 million yuan (approximately 2.8 billion yen). The Group also plans to start new plant construction in China in 2012 with 500 million yuan investment.