is the steel industry for the electricity supplier in the field of the first chair of the Shanghai Steel Union (300226.SZ), and will look to the coal industry.

Shanghai Steel Union announced that in June 2nd, the board of directors has approved a shares of coal electricity supplier company investment, which includes mountain coal international energy group Limited by Share Ltd (hereinafter referred to as 600546.SH, Mountain Coal International) and Shanxi Dongtai Energy Group Limited (hereinafter referred to as East Thai energy).

coal electric business platform company will be engaged in coal spot trading business, the registered capital of 50 million yuan. Mountain coal international and Dongtai energy were intended to contribute 20 million yuan and 12 million 500 thousand yuan, accounting for 40% of the registered capital and 25%. Mountain Coal International has 14 coal mines, about 18.31 tons of reserves, the annual production capacity of 20 million 400 thousand tons; Dongtai energy business covers coal, logistics etc..

A subsidiary of silver steel business is invested 17 million 500 thousand yuan joint control

Shanghai steel, accounting for 35% of the registered capital. Steel silver electricity supplier for the operation of the Shanghai iron and Steel Association of iron and steel electricity supplier trading platform, in this year to get a 1 billion 100 million yuan of financing to find steel network is its main competitor. Last year, steel silver electricity supplier of steel online turnover reached a new high of 28 million 48 thousand tons, but the company has been a loss for two consecutive years, last year’s loss of $430 million.

coal electricity supplier platform headquarters will be established in Shanghai, has not yet officially launched operations. Shanghai Steel Union Miyou Dong Shao Cheng told reporters the interface, the Shanghai Steel Union to information industry started, the main track of iron ore, steel and other commodities, in addition to the original industrial chain will be involved in other industries such as coal by way of extension. He said, Shanghai Steel Union earlier in the coal industry in less, so choose and have the coal industry background and Dongtai mountain coal international energy cooperation, and preliminary consideration to build coal business platform is rich in the industry data, and try to spot trading of coal.

this is not the first time in Shanghai Steel Union in the field of electricity supplier layout. In early 2013, Shanghai steel union with Huaibei mining Refco Group Ltd (hereinafter referred to as Huaibei mining) to set up a joint venture in Shanghai July Agel Ecommerce Ltd (hereinafter referred to as Shanghai July). The company operates the eastern coal electronic trading center is also a platform for coal electricity supplier.

Shanghai Steel Union and Huaibei mining investment in the platform for the proportion of 48% and 52%, the two sides intend to inject about $100 million into the period of about $three. 2014 and 2015, the net profit of the eastern coal electronic trading center was 18 thousand yuan and $206 thousand.

You Shaocheng said, compared with the eastern coal electronic trading center, the new coal business platform in the operating mode is not very different, but because of the different partners in the region of coal resources, the two will have some differences in terms of transaction types.

in February this year, Shanghai July completed the capital increase, Shanghai Steel Union in the coal business platform voice has declined. After the capital increase, there are three new shareholders