China Metal Recycling
Encyclopedia
China Metal Recycling Limited is the largest recycler
of scrap metal
in Mainland China
by revenue
. Based in Guangzhou
, Guangdong
, it is mainly engaged in collecting scrap steel, scrap copper and other scrap metals and processing them using equipment to produce recycled scrap metals for its customers. Its recycling facilities are located in Guangdong
, Jiangsu
and Hong Kong
.
in June 2009 with the IPO price of HK$5.15 per share. Its stock price was closed at HK$6.44 at the first trading day, 24% higher than its IPO price. On 17 November 2009, its price price suddenly plunged 24%, the most since listing, as its Chief Financial Officer
, Wong Hok-leung, resigned after saying he was denied information.
Recycler
Recycler is the tenth studio album by American blues rock band ZZ Top, released in 1990.The band had a cameo in the 1990 movie Back to the Future Part III playing an "old west" version of "Doubleback" along with some local musicians....
of scrap metal
Scrap Metal
Scrap Metal were a band from Broome, Western Australia who played rock music with elements of country and reggae. The members had Aboriginal, Irish, Filipino, French, Chinese, Scottish, Indonesian and Japanese heritage. The band toured nationally as part of the Bran Nue Dae musical and with...
in Mainland China
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
by revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
. Based in Guangzhou
Guangzhou
Guangzhou , known historically as Canton or Kwangchow, is the capital and largest city of the Guangdong province in the People's Republic of China. Located in southern China on the Pearl River, about north-northwest of Hong Kong, Guangzhou is a key national transportation hub and trading port...
, Guangdong
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
, it is mainly engaged in collecting scrap steel, scrap copper and other scrap metals and processing them using equipment to produce recycled scrap metals for its customers. Its recycling facilities are located in Guangdong
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
, Jiangsu
Jiangsu
' is a province of the People's Republic of China, located along the east coast of the country. The name comes from jiang, short for the city of Jiangning , and su, for the city of Suzhou. The abbreviation for this province is "苏" , the second character of its name...
and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
History
The company was established in 2000. The company was listed on the Hong Kong Stock ExchangeHong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in June 2009 with the IPO price of HK$5.15 per share. Its stock price was closed at HK$6.44 at the first trading day, 24% higher than its IPO price. On 17 November 2009, its price price suddenly plunged 24%, the most since listing, as its Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
, Wong Hok-leung, resigned after saying he was denied information.