General Steel Holdings, Inc. (GSI)

[Timothy Smith]

Weak global demand. Not good outlook.

[StockGod]

whats happening with this company? looks tired.

[Timothy Smith]

General Steel (NYSE:GSI): Q2 Adj. Net Loss of $36.7M.

Revenue of $454.86M (-10.6% Y/Y)

[Timothy Smith]

General Steel (NYSE:GSI): Q1 EPS of -$0.73

Revenue of $328.16M (-44.8% Y/Y)

[eastunder]

Good Morning!

What do I think?

100% - it will be approved.

My guess on the ratio is the Max at the 1:4 ratio. Which really, considering what they could have done - isn't bad. I'm just thrilled they didn't mention a 1 for every 20 RS. :)

It will remain to be seen if that is good or bad for the stock in the short term but it very well may be good for the stock in the long run.

It's really up to GSI to prove themselves fundamentally, get the company to be moving in the right direction and the PPS will follow.

[NathanH]

Maybe it'll be for the best or maybe it isn't approved at all? What do you think?

[eastunder]

Reverse split coming

GENERAL STEEL HOLDINGS, INC.
Level 21, Tower B, Jiaming Center
No. 27 Dong San Huan North Road
Chaoyang District,
Beijing, China, 100020 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO OUR STOCKHOLDERS:

http://ih.advfn.com/p.php?pid=nmona&article=64645583&symbol=GSI

Notice is hereby given that the annual meeting (the “Annual Meeting”) of the Stockholders of General Steel Holdings, Inc. (the “Company”) will be held at Level 21, Tower B, Jiaming Center, No. 27 Dong San Huan North Road, Chaoyang District, Beijing, China, 100020, on December 29, 2014 at 10:00 a.m., Beijing time, for the following purposes:

1. to elect five members of our Board of Directors to serve until the annual meeting of stockholders to be held in 2015 and until their respective successors are elected and qualified;

2. to ratify the appointment of Friedman LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2014;

3. to approve and ratify the amendment to our 2008 Equity Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder to 6,000,000;

4. to approve a reverse stock split of the Company’s common stock, pursuant to which each stockholder will receive one share of our common stock in exchange for every two, three or four shares of the Company’s common stock owned at the effective time of such reverse split, with the exact ratio to be determined by the Company’s Board of Directors;

5. to approve, by a non-binding advisory vote, the compensation of our Named Executive Officers; and

6. to consider and act upon any other matters that may properly come before the Annual Meeting or any adjournment thereof.
The Company’s Board of Directors has fixed the close of business on November 24, 2014 as the record date (the “Record Date”) for determining the stockholders having the right to vote at the Annual Meeting or any adjournment thereof. A list of such stockholders will be available for inspection by any stockholder during ordinary business hours at our principal place of business at Level 21, Tower B, Jiaming Center, No. 27 Dong San Huan North Road, Chaoyang District, Beijing, China, 100020 for the ten day period preceding the Annual Meeting. The stockholder list also will be available for inspection by any stockholder at the time and place of the Annual Meeting.

[detearing]

GSI up 5.7% AH following AK Steel pop...all thanks to US Steel AH news.

[parrot head]

very bullish looking chart for sure. Not sure how high it will go, but looks like it wants to pop a bit. May have already popped, it broke resistance. Its been stuck in a channel for a number of years. I'd love for this to be a 2008 recovery stock. Not many of them left to take advantage of.

[eastunder]

You're Welcome.

Here's a news site that goes with those previous charts

http://finviz.com/quote.ashx?t=gsi

And GSI shows bullish here:

http://www.stockta.com/cgi-bin/analysis.pl?symb=gsi&num1=1&cobrand=&mode=stock



And here:

http://www.stoxline.com/quote.php?symbol=gsi

Not sure why?

[parrot head]

thanks for the charts. this one caught my interest today. Will keep studying

[detearing]

Thanks for posting those...excellent to see the comparison. Note that x and aks began a gradual rise lat 2006 and GSI stayed flat now...if history repeats itself, we could have one heck of a GSI pop any month now...

[eastunder]

You are right.

We could be. Or we might not be.

Another 2008 disaster that just never got back on it's feet.

[detearing]

Never know...we could be bag holders...reminds me though of x and aks...held through the lows now they ok.

[eastunder]

I don't really feel GSI is ever going to go anywhere.

Good luck though. To both of us. ;)

[detearing]

Anyone else long GSI? For some reason I have a ton, may be overweight.

[eastunder]

Notification That Quarterly Report Will Be Submitted Late (nt 10-q)


http://ih.advfn.com/p.php?pid=nmona&article=63265619&symbol=GSI

[AventadorJ]

GSI(Symbol)could move higher as the industry leader United States Steel Corp. (X) saw a new high of $34.78.Keep watching on GSI !Target@1.58

[AventadorJ]

Destocking and production limit in steel industry may lead to a rebound of steel price in future months.So GSI(symbol)is now your good choice,Tgt@$1.35

[AventadorJ]

GSI(Symbol)’s expansion into B2B e-commerce business will kindle investment sentiment, which could stimulate stock price to $1.35!

[AventadorJ]

GSI(Symbol)expects 14FY earnings of $0.2 per share,with 17-29 PE range,GSI could hit $3.4-5.8 range!Short Term Target@1.35!

[AventadorJ]

China economic data shows the industry that GSI(symbol)belongs has a very stable growth in the first half of 2014.GSI is transforming to a more attract stock.Tgt@$1.58

[AventadorJ]

New E-Commerce Play:GSI(Symbol)could move ahead as its transformation to Bulk Commodity E-Commerce gained $7.5M premium private Placement.Target@1.58!

[detearing]

Nice$$

[eastunder]

Very very odd.

Cool though.

But very very odd.

Still cool. LOL

[eastunder]

General Steel Holdings (GSI) Places 5M Shares at $1.50 Each

http://www.streetinsider.com/Equity+Offerings/General+Steel+Holdings+%28GSI%29+Places+5M+Shares+at+%241.50+Each/9657138.html

July 14, 2014 8:32 AM EDT


General Steel Holdings (NYSE: GSI) announced that the Company has entered into a definitive Subscription Agreement (the "Subscription Agreement") for a private placement of its common stock, par value $0.001 per share ("Common Stock"), with Henry Yu (the "Investor"), the Company's Chairman and Chief Executive Officer. The gross proceeds from the private placement will be approximately $7.5 million, and the Company intends to use the proceeds to fund its expansion into high-growth bulk commodity e-commerce.

Pursuant to the Subscription Agreement, the Investor purchased from the Company and the Company issued and sold to the Investor five million shares of Common Stock at a purchase price of $1.50 per share (the "Purchase Price"), for an aggregate amount of $7.5 million. The Purchase Price is approximately 23% higher than that of the 90-day volume weighted average closing price of the Common Stock from March 5, 2014 to July 11, 2014, which ranged from $0.90 to $1.47 per share of Common Stock during the period. The Common Stock purchased and issued will be subject to the six-month holding period provisions of Rule 144 of the Securities Act of 1933, as amended (the "Securities Act"). The private placement is expected to close in July 2014, subject to customary closing conditions.

"My willingness to purchase shares at a premium price reflects my optimism with General Steel's recovering trend in recent months and the Company's long-term strategy and growth prospects," said Henry Yu, Chairman and Chief Executive Officer of General Steel. "I remain highly confident that General Steel will earn positive net income in the second half of 2014, and my injection of additional capital will enable the Company to expand its business scope. It is very clear to me that our planned expansion into commodity e-commerce will enable the Company to not only capitalize on significant growth opportunities ahead but also help to generate positive returns for its investors."

The purchase and issuance of the Common Stock set forth above was exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder ("Regulation D"), based upon the representations made by the Investor that he was an "accredited investor" (as such term is defined under Rule 501 of Regulation D) and that he was purchasing such securities without a present view toward a distribution of the securities. In addition, there was no general advertisement conducted by the Company in connection with the sale of the securities.

[detearing]

GSI high near $12 in 2007; high near $14 in 2008.

I do see potential with the steel sector stocks...

[detearing]

Been accumulating in June...looks like happy days are here again! GSI

GSI a buck!

[stocktrademan]

General Steel Holdings, Inc. [$GSI] due diligence

bullish

$GSI

DD Notes ~ http://www.ddnotesmaker.com/GSI

##### recent news/filings ~ source: finance.yahoo.com

Wed, 25 Jun 2014 12:07:00 GMT ~ 8:07 am General Steel sees EPS of $0.08-0.12 in 2H14; sees sales of $1.3-1.4 bln, on sales volume of approximately 3 million metric tons
read full: http://finance.yahoo.com/news/inplay-briefing-com-055139997.html#gsi
*********************************************************

Wed, 25 Jun 2014 12:00:00 GMT ~ General Steel Estimates Earnings per Share of $0.08 to $0.12 for the Second Half of 2014
[PR Newswire] - BEIJING, June 25, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, today announced that the Company is confident in its business turnaround and currently estimates earnings per share ("EPS") of $0.08 to $0.12 for the second half of 2014. For the six months ending December 31, 2014, the Company currently projects: Net income attributable to the Company to range from $4.5 million to $6.5 million; EPS attributable to the Company to range from $0.08 to $0.12.
read full: http://finance.yahoo.com/news/general-steel-estimates-earnings-per-120000720.html
*********************************************************

Thu, 19 Jun 2014 20:46:00 GMT ~ GENERAL STEEL HOLDINGS INC Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
read full: http://biz.yahoo.com/e/140619/gsi8-k.html
*********************************************************

Thu, 19 Jun 2014 20:30:00 GMT ~ General Steel Receives NYSE Notification Regarding Average Closing Price Requirement Under NYSE's Continued Listing Standard
[PR Newswire] - BEIJING, June 19, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, announced today that the New York Stock Exchange (the "NYSE") has notified the Company that it has fallen below the NYSE's continued listing standard that requires a minimum average closing price of $1.00 per share over a 30 consecutive trading day period. Pursuant to the NYSE's notification, the Company has a cure period of three months from receipt of the notification, or to September 15, 2014, to cure the deficiency by regaining compliance with the minimum share price criteria. The Company can regain compliance on an accelerated basis if its common stock has a $1.00 share price on the last trading day of any calendar month within the cure period and the average share price over the 30 trading days preceding the end of that month is also $1.00. Under NYSE rules, the Company has 10 business days from the receipt of the NYSE's notification to submit its intent to cure this deficiency and a plan to the NYSE clearly outlining any strategic or operational initiatives it intends to complete in order to increase its share price, as well as the Company's first quarter 2014 update.
read full: http://finance.yahoo.com/news/general-steel-receives-nyse-notification-203000150.html
*********************************************************

Tue, 10 Jun 2014 12:00:00 GMT ~ General Steel Accelerates Transformation with Establishment of Two Investment Entities
[PR Newswire] - BEIJING, June 10, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, announced today that it aims to accelerate its business transformation by establishing two investment entities and expanding its business scope to include other non-steel industries. With the full support and approval of its Board of Directors, the Company is establishing two new investment entities that will serve as platforms for its expansion into industries that offer high-growth and high-margin, such as commodity e-commerce, asset leasing and financing, and clean technologies. "While we remain confident in our steel business, we are excited about entering into other non-steel industries," said Henry Yu, Chairman and Chief Executive Officer of General Steel, "With the proven ability of our in-house talents, we have a unique opportunity to expand our business scope – one which we believe offers mitigated risks and high return potential.
read full: http://finance.yahoo.com/news/general-steel-accelerates-transformation-establishment-120000701.html
*********************************************************

##### chart ~ source: stockcharts.com



##### chart ~ source: eoddata.com



##### company info ~ source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/GSI/company-info
Ticker: $GSI
OTC Market Place: Not Available
CIK code: 0001239188
Company name: General Steel Holdings, Inc.
Incorporated In: NV, USA

##### extra dd links

Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001239188&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/GSI/filings
Latest financials: http://www.otcmarkets.com/stock/GSI/financials
Latest news: http://www.otcmarkets.com/stock/GSI/news - http://finance.yahoo.com/q/h?s=GSI+Headlines

Major holdings: http://data.cnbc.com/quotes/GSI/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=GSI+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/GSI.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=GSI

RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=GSI&search=search

DTCC: http://search2.dtcc.com/?q=General+Steel+Holdings%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=General+Steel+Holdings%2C+Inc.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=General+Steel+Holdings%2C+Inc.&x=0&y=0

Short Sales: http://www.otcmarkets.com/stock/GSI/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/GSI/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/GSI/research
Historical Prices: http://finance.yahoo.com/q/hp?s=GSI+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=GSI+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=GSI+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=GSI+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=GSI+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=GSI+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=GSI
Balance Sheet: http://finance.yahoo.com/q/bs?s=GSI
Cash Flow: http://finance.yahoo.com/q/cf?s=GSI+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/GSI
Bloomberg: http://www.bloomberg.com/quote/GSI:US
Morningstar: http://quotes.morningstar.com/stock/s?t=GSI
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=GSI
Barchart: http://www.barchart.com/quotes/stocks/GSI
OTC Short Report: http://otcshortreport.com/index.php?index=GSI
Investopedia: http://www.investopedia.com/markets/stocks/GSI/?wa=0

http://www.pennystocktweets.com/stocks/profile/GSI

##### last known share structure ~ source: otcmarkets.com

Market Value: $34,488,789 a/o Jun 25, 2014
Shares Outstanding: 36,281,074 a/o Mar 10, 2009
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

##### business description ~ source: otcmarkets.com



DD Notes ~ http://www.ddnotesmaker.com/GSI
cbcl

[surfer44]

GSI PR: General Steel Schedules First Quarter 2014 Earnings Release

http://finance.yahoo.com/news/general-steel-schedules-first-quarter-120000676.html

[AventadorJ]

china's policy is good for GSI.many big project ,such as railway budings will start in next few years. so GSI will meet great opportunity.

[eastunder]

General Steel Signs Direct Iron Ore Supply Agreement with Rio Tinto

Secured at Least 1.5 Million Metric Tons of Imported Iron Ore for 2014


PR Newswire
General Steel Holdings, Inc.
April 14, 2014 8:00 AM

http://finance.yahoo.com/news/general-steel-signs-direct-iron-120000714.html

BEIJING, April 14, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, announced today that its principal manufacturing facility, Shaanxi Longmen Iron and Steel Co., Ltd. ("Longmen Joint Venture"), has signed a supply agreement with Rio Tinto Iron Ore Asia Pte. Ltd. ("Rio Tinto") for procurement of imported iron ore in 2014, commencing from April 1, 2014.

Under this agreement, Rio Tinto will directly provide Longmen Joint Venture at least 1.5 million metric tons of imported iron ore at a favorable price based on the average monthly iron ore index upon delivery.

"We are thrilled to sign our first direct supply agreement with Rio Tinto," said Henry Yu, Chairman and Chief Executive Officer of General Steel. "The ability to directly procure from one of the world's largest supplier will significantly lower our sourcing costs and ensure timely delivery of the highest quality imported iron ore. We believe the large guaranteed supply coupled with pre-determined favorable pricing terms provides us with more operational flexibility and greater cost advantages. Importantly, our commitment to the large purchase volume demonstrates confidence in our leading position in Western China and optimism of a turnaround in our core marketplace and return to revenue growth in 2014."

[eastunder]

GSI 4Q and full year earnings 3-27-14 BMO

General Steel Schedules Fourth Quarter and Full Year 2013 Earnings Release

--Company to Hold a Conference Call on Thursday, March 27, 2014 at 8:00 a.m. EDT--


BEIJING, March 20, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, today announced that it will report financial results for the fourth quarter and full year ended December 31, 2013, before the U.S. market opens on March 27, 2014.

[eastunder]

General Steel Announces Shareholder Resolutions Adopted at 2013 Annual General Meeting

PR Newswire
General Steel Holdings, Inc.
January 2, 2014 8:30 AM

http://finance.yahoo.com/news/general-steel-announces-shareholder-resolutions-133000016.html


BEIJING, Jan. 2, 2014 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (GSI), a leading non-state-owned steel producer in China, today announced the proposals (the "Proposals") brought before the Company's stockholders (the "Stockholders") at its 2013 annual meeting of the Stockholders (the "Annual Meeting"), which was held on December 27, 2013.

The Stockholders took the following actions regarding the Proposals:

1.Elected five members to General Steel's Board of Directors to serve until the annual meeting of Stockholders to be held in 2014 and until their respective successors are elected and qualified;

2.Ratified the appointment of Friedman LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2013;

3.Approved and ratified an amendment to the Company's 2008 Equity Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder to 5,000,000;

4.Approved, on a non-binding basis, the compensation of the Company's Named Executive Officers; and

5.Approved a reverse stock split (the "Reverse Split") of the Company's common stock, pursuant to which, each Stockholder will receive one share of the Company's common stock in exchange for every two, three or four shares of the Company's common stock owned at the effective time of the Reverse Split, with the exact ratio to be determined by the Company's Board of Directors.

Company regained compliance with continued listing standards of minimum share price requirement; Board deemed Reverse Split unnecessary at this time:

At the Annual Meeting, Stockholders holding a total of approximately 70% of the Company's common stock voted in favor of the Reverse Split. The Reverse Split intended to aid the Company in regaining compliance with the New York Stock Exchange's (the "NYSE") minimum average closing price continued listing standard (the "Continued Listing Standard"). On December 6, 2013, the Company received confirmation from the NYSE that it had regained compliance with the Continued Listing Standard of minimum share price requirement of $1.00, after its closing price and 30-trading day average price reached $1.07 and $1.00, respectively, on November 29, 2013. Therefore, the board of directors of the Company decided not to effectuate the Reverse Split at this time, although it may still do so in the future if it determines that such actions are in the best interests of the Company and the Stockholders.

About General Steel Holdings, Inc.

General Steel Holdings, Inc., headquartered in Beijing, China, produces a variety of steel products including rebar, high-speed wire and spiral-weld pipe. The Company has operations in China's Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality with seven million metric tons of crude steel production capacity under management. For more information, please visit www.gshi-steel.com.

To be added to the General Steel email list to receive Company news, or to request a hard copy of the Company's Annual Report on Form 10-K, please send your request to [e-mail].

Forward-Looking Statements

[kmx_swing]

complete report


http://pan.baidu.com/s/1GJcZ8

[kmx_swing]

Please note that Merriman-New Oriental Capital LLC released 3Q13 earnings review report of General Steel Holdings, Inc.



Please refer to the summary below and click the link for the full report.



Download Full Report



3Q13 Review: Turning It Around



Summary:




This morning, General Steel reported its 3Q13 financial results with revenue decreasing 14.2% Y/Y to $610 million, below our estimate of $723 million, driven by lower than expected sales volume which decreased 10.0% Y/Y to approximately 1.26 million metric ton (MMT). EPS of $0.07 beat our estimate of ($0.38) thanks to a $41.8 million sharing liability adjustment which added ~$0.46 to the bottom line. With benign pricing environment for both rebar and iron ore, gradually improving demand from infrastructure and auto sectors, further streamlined production process, and continued effort on improving operating efficiency, the turnaround of General Steel is well on track in our view. Reiterating a Speculative Buy and $3.00 Price Target.

Key Points


•
Revenue Misses on Lower Volume, EPS Beats: 3Q Revenue decreased

14.2% Y/Y to $610 million (vs. our estimate of $723 million) with sales volume decreasing 10.0% Y/Y to 1.26 MMT and ASP decreasing 6.1% to $489.6 per MT. Gross margin of 1.3% compared to gross loss margin of (1.9%) for the same period of last year and our projection of 1.5%. EPS of $0.07 beat our estimate of ($0.38) thanks to a $41.8 million revaluation adjustment to capital lease liabilities which added ~$0.46 to the bottom line.

•
Improving Industry Fundamentals to Continue into 2014: As highlighted in Exhibit 3 (page 2), the Company benefitted from moderate recovery in rebar prices and fairly stable iron ore prices in 3Q13. This benign pricing environment is expected to continue in 4Q and possibly into 2014. This, combined with improving demand for steel from infrastructure and auto sectors, bodes well for steel makers including General Steel in our view.


•
Turning It Around: With the 0.9 MMT rebar production line now fully ramped

and the 1.2 MMT rebar production line to commence commercial production in

December, we expect streamlined production process as well as continued

benchmark initiatives to drive further margin improvement and believe the turnaround of General Steel is well underway.



•Adjusting Estimates: We are adjusting our model with 4Q13 revenue/ EPS to $655 million/$0.02 from $747 million/ ($0.36). For 2014, we are projecting revenue of $2,800 million and loss per share of ($1.34).
•Reiterating Speculative Buy and $3.00 Price Target: We are keeping our Speculative Buy rating and $3.00 price target unchanged. Our price target is based on current stock valuation plus estimated market value of its land portfolio of over $100 million, or approximately $2.00 per share. Risks to Our Price Target: 1) a lack of improvement of overall steel industry fundamentals; 2) continued lack of investor appetite for small- and micro- cap Chinese stocks in general; and 3) an interruption of financial and operational support from the Company's SOE partners.

[kmx_swing]

they definitely will, eastunder...
read yesterday's pr carefully...Q4 will be affected by much lower costs again = stronger profit from operations

this is the long term cash cow...finaly :))

[eastunder]

I love a turn around story. ;)

I just hope they can continue on the right path!

[kmx_swing]

finaly something fat....eastunder, here our turnaroundstory begins...we are on the way to 10.00...latest this time next year..congratulations!!!

[eastunder]

General Steel Holdings Inc : General Steel Reports Third Quarter 2013 Financial Results


11/12/2013


http://www.4-traders.com/GENERAL-STEEL-HOLDINGS-IN-62626/news/General-Steel-Holdings-Inc--General-Steel-Reports-Third-Quarter-2013-Financial-Results-17453536/

BEIJING, Nov. 12, 2013 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, today announced financial results for the third quarter ended September 30, 2013.

"I am delighted that we achieved positive gross and net margins during the third quarter," said Henry Yu, Chairman and Chief Executive Officer of General Steel. "We also significantly enhanced our cost structure with the launch of two additional continuous-rolling production lines, with one commencing production in July and the other entering trial production earlier this month."

"We also observed positive market momentum for China's steel industry. The average selling prices of key steel products rebounded moderately during the third quarter, driven by the robust demand from multi-sectors including infrastructure construction and automotive sectors. In addition, manufacturing activities in China grew at its fastest pace in the most recent seven months, with the Purchasing Managers Index reaching 50.9 this October, as the government readies a series of key economic reforms. Given our improving profitability, enhanced cost structure and positive momentum in the industry, we feel optimistic about our business in the quarters ahead."

John Chen, Chief Financial Officer of General Steel, commented, "I'm very pleased with our execution this third quarter. We generated a positive quarterly operating cash inflow of $75 million and vastly improved profitability. Additionally, we further cut finance expenses and enhanced our financing flexibility, through better planning, budgeting and securing additional working capital support through favorable payment terms granted by our stakeholders. I believe we are at the beginning of a sustainable business turn-around."

Third Quarter 2013 Financial Information
-- Sales decreased by 14.2% year-over-year to $610.1 million, from $711.4
million in the third quarter of 2012.
-- Sales volume decreased by 10.0% year-over-year to approximately 1.3
million metric tons, compared with 1.4 million metric tons in the third
quarter of 2012.
-- Gross profit was $8.2 million, or 1.3% of revenue, compared with a gross
loss of $(13.6) million, or negative (1.9%) of revenue in the third
quarter of 2012.
-- Operating income was $30.4 million, compared with an operating loss of
$(36.4) million in the third quarter of 2012.
-- Net income attributable to the Company was $3.8 million, or $0.07 per
diluted share, compared with a net loss of $(41.6) million, or $(0.76)
per diluted share in the third quarter of 2012.
-- Net operating cash inflow was $75.5 million, compared with $9.5 million
in the third quarter of 2012.
-- As of September 30, 2013, the Company had cash and restricted cash of
$467.9 million.


First Nine Months 2013 Financial Information
-- Sales decreased by 10.5% year-over-year to $1.9 billion, from $2.1
billion in the same period of 2012.
-- Sales volume increased by 0.9% year-over-year to approximately 3.95
million metric tons, compared with 3.91 million metric tons in the same
period of 2012.
-- Gross loss was $(23.2) million, or negative (1.2%) of revenue, compared
with a gross profit of $20.1 million, or 0.9% of revenue in the same
period of 2012.
-- Operating income was $25.2 million, compared with an operating loss of
$(41.5) million in the same period of 2012.
-- Net loss attributable to the Company narrowed to $(32.9) million, or
$(0.60) per diluted share, compared with $(102.8) million, or $(1.87)
per diluted share in the same period of 2012.
-- Net operating cash inflow was $14.0 million, compared with a net outflow
of $(90.1) million in the same period of 2012.


Third Quarter 2013 Financial and Operating Results

Total Sales

Total sales for the third quarter of 2013 decreased by 14.2% year-over-year to $610.1 million, compared with $711.4 million in the third quarter of 2012. The year-over-year revenue decreases were due to less sales volume and a decrease in average selling price of the products.
-- Total sales volume in the third quarter of 2013 was 1.3 million metric
tons, a decrease of 10.0% compared with 1.4 million metric tons in the
third quarter of 2012.
-- The average selling price of rebar decreased 6.1% to approximately
$489.6 per ton in the third quarter of 2013 from approximately $521.2
per ton in the same period of 2012.


Gross Profit and Gross Margin

Gross profit for the quarter was $8.2 million, compared with a gross loss of $(13.6) million in the third quarter of 2012. The gross margin increased to 1.3% of total sales in the third quarter of 2013, compared with gross loss margin of negative (1.9%) of total sales in the same period a year ago, which reflects our production efficiency improvement and a slower decrease in ASP compared with cost of rebar.

Operating Expenses and Operating Income

Selling, general and administrative expenses for the third quarter of 2013 decreased 13.7% to $19.7 million, compared to $22.8 million in the third quarter of 2012. General and administrative expenses decreased to $12.4 million, compared with $14.1 million in the same period of 2012. The decrease in general and administrative expense was mainly due to a decrease of $1.7 million in bad debt expenses, partially offset by an additional write-off of a prepaid special fund of $0.6 million in the third quarter of 2013, compared with the same period of last year. Selling expenses decreased 16.5% to $7.3 million, compared to $8.7 million in the same period of 2012. The decrease in selling expense was primarily attributable to savings in a special fund related to the sales of the Company's products, which was no longer imposed by the PRC tax authorities in 2013, while $1.6 million of the special fund was imposed in the third quarter of 2012.

The Company recognized other operating income of $41.8 million due to change in the fair value of profit sharing liability during the third quarter of 2013, compared with $0 in the same period of last year, which reflects a change in the estimated fair value of the Company's profit sharing liability.

Correspondingly, income from operations for the third quarter of 2013 was $30.4 million, compared with a loss from operations of $(36.4) million in the third quarter of 2012.

Finance Expense

Finance and interest expense in the third quarter of 2013 decreased $11.1 million to $25.5 million, of which, $7.8 million was the non-cash interest expense on capital lease, as compared with $10.7 million in the same period of 2012, and $17.7 million was the interest expense on bank loans and discounted note receivables as compared with $25.9 million in the third quarter of 2012. The decrease in interest expense on bank loans and discounted note receivables was primarily attributable to a reduction in the amount of bank notes receivable redeemed early, and less interest-bearing loans from banks and third parties, benefiting from additional financing support from suppliers and vendors during the third quarter of 2013.

Net Income and Net Income per Share

Net income attributable to General Steel for the third quarter of 2013 was $3.8 million, or $0.07 per diluted share, based on 55.1 million weighted average shares outstanding. This compares to a net loss of $(41.6) million, or $(0.76) per diluted share, based on 54.5 million weighted average shares outstanding in the third quarter of 2012.

First Nine Months 2013 Financial Results and Operating Results

Total Sales

Total sales for the first nine months of 2013 decreased 10.5% year-over-year to $1.9 billion, compared with $2.1 billion in the first nine months of 2012. The year-over-year revenue decreases were due to a decrease in the average selling price.
-- Total sales volume in the first nine months of 2013 was 3.95 million
metric tons, an increase of 0.9% compared with 3.91 million metric tons
in the first nine months of 2012.
-- The average selling price of rebar decreased 12.6% to approximately
$495.6 per ton in the first nine months of 2013 from approximately
$566.8 per ton in the same period of 2012.


Gross Profit and Gross Margin

Due to a steeper decrease in average selling price in the first half of 2013, gross loss for the first nine months of 2013 was $(23.2) million, or (1.2%) of total sales, compared with a gross profit of $20.1 million, or 0.9% of total sale in the first nine months of 2012.

Operating Expenses and Operating Income

Selling, general and administrative expenses for the first nine months of 2013 decreased 3.4% to $59.5 million, compared to $61.5 million in the first nine months of 2012. General and administrative expenses increased slightly to $34.9 million, compared with $33.7 million in the same period of 2012. Selling expenses decreased 11.9% to $24.6 million, compared to $27.9 million, which included a $4.5 million special fund imposed in the same period of 2012.

The Company recognized other operating income of $107.9 million due to change in the fair value of profit sharing liability during the first nine months of 2013, compared with $0 in the same period of last year.

Correspondingly, income from operations for the first nine months of 2013 was $25.2 million, compared with a loss from operations of $(41.5) million in the first nine months of 2012.

Finance Expense

Finance and interest expense in the first nine months of 2013 was $81.4 million, of which, $27.8 million was the non-cash interest expense on capital lease as compared with $32.4 million in the same period of 2012, and $53.6 million was the interest expense on bank loans and discounted note receivables, as compared with $106.6 million in the first nine months of 2012.

Net Income and Net Income per Share

Net loss attributable to General Steel for the first nine months of 2013 was $(32.9) million, or $(0.60) per diluted share, based on 55.0 million weighted average shares outstanding. This compares to a net loss of $(102.8) million, or $(1.87) per diluted share, based on 55.0 million weighted average shares outstanding in the first nine months of 2012.

Balance Sheet

As of September 30, 2013, the Company had cash and restricted cash of approximately $467.9 million, compared to $369.9 million as of December 31, 2012. The Company had an inventory balance of approximately $177.4 million as of September 30, 2013, compared to $212.7 million as of December 31, 2012.

[eastunder]

General Steel Holdings Inc : General Steel Begins Trial Production Run for Newly-Constructed Advanced Continuous-Rebar-Rolling Production Line

http://www.4-traders.com/GENERAL-STEEL-HOLDINGS-IN-62626/news/General-Steel-Holdings-Inc--General-Steel-Begins-Trial-Production-Run-for-Newly-Constructed-Advance-17450599/



BEIJING, Nov. 11, 2013 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, announced today that it has commenced a trial production run of a newly-constructed 1.2 million metric ton ("MMT") advanced continuous-rebar-rolling production line at its principal manufacturing facility, Shaanxi Longmen Iron and Steel Co., Ltd. ("Longmen Joint Venture"). The Company currently expects this new production line to reach full operation by the end of 2013.

This new 1.2 MMT continuous-rolling production line expands on the Company's successful launch of a 900,000 metric ton line in July of 2013. Longmen Joint Venture now has a total continuous-rolling capacity of 4.3 MMT, including 3.3 MMT of rebar and 1.0 MMT of high-speed wire. When the two newly-constructed continuous-rolling production lines located at the same facility in which steel billet is produced reach their designed efficiency, the Company expects to reduce overall production cost by approximately RMB 150 million per year by eliminating intermediate transportation, re-heating, and outsourced-processing costs.

"The launch of another continuous-rolling production line should further enhance our cost structure," said Henry Yu, Chairman and Chief Executive Officer of General Steel. "We are pleased the first line already reached its full capacity in early October and are confident the second line will ramp to full capacity by the end of this year. We expect the additional continuous-rolling capacity will contribute outstanding savings in our unit production cost, and ultimately deliver meaningful profitability improvements."

About General Steel Holdings, Inc.

General Steel Holdings, Inc., headquartered in Beijing, China, produces a variety of steel products including rebar, high-speed wire and spiral-weld pipe. The Company has operations in China's Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality with seven million metric tons of crude steel production capacity under management. For more information, please visit www.gshi-steel.com.

[eastunder]

General Steel Holdings, Inc. (GSI) Swings to Q3 Profit

http://www.streetinsider.com/Earnings/General+Steel+Holdings%2C+Inc.+%28GSI%29+Swings+to+Q3+Profit/8871391.html

General Steel Holdings, Inc. (NYSE: GSI) reported Q3 EPS of $0.07, versus ($0.76) reported last year. Revenue for the quarter came in at $610.1 million, versus $711.4 million reported last year.

[eastunder]

GSI 3Q earnings BMO 11-12

General Steel Schedules Third Quarter 2013 Earnings Release

General Steel Holdings, Inc. Charts.BEIJING, Nov. 5, 2013 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, today announced that it will report financial results for the third quarter ended September 30, 2013, before the U.S. market opens on November 12, 2013.

[eastunder]

Ahhh. Knobias make a blooper, did they?

http://www.knobias.com/story.htm?eid=3.1.4ccc88c6113dec1d82d8ebeda48faca3b62606b4700b5002f4282ae747bb6bc1



I didn't even notice that. LOL Thank you for pointing that out!

You are correct: It's Q1

http://finance.yahoo.com/news/general-steel-reports-profitable-first-100000834.html

[kmx_swing]

are you sure eastunder? where? I think it was Q1 report, not Q2...as for Q2, Q3 and Q4 is expected ...a loss again

[eastunder]

General Steel Reports Profitable First Quarter 2013 Financial Results

Tuesday , August 06, 2013 06:00ET


BEIJING, Aug. 6, 2013 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, today announced financial results for the first quarter ended March 31, 2013. The Company will file its Form 10-Q for the quarter ended March 31, 2013 with the Securities and Exchange Commission after market closes on Tuesday, August 6, 2013.

"We are very pleased the first quarter marked significant milestones in our returning to profitability and quarterly reporting," said Henry Yu, Chairman and Chief Executive Officer of General Steel. "Despite the challenging macro environment, we were able to forge ahead with our strategies and operations, as we increased shipment, gained market share in our key market in Western China, improved internal purchasing, and won additional credit support from our suppliers."

"During the first quarter, we also began construction of an additional continuous advanced-rebar-rolling production line with capacity of 1.2 million metric tons scheduled to commence production in the fourth quarter of 2013. This is in addition to our newly-completed 900,000 seismic-grade rebar-rolling production line that had already started trial productions in July. We believe the expanded capacity will further lower our production costs, thereby further improve our bottom line and market competitiveness in the second half of 2013."


First Quarter 2013 Financial Information

-- Sales increased by 0.5% year-over-year to $651.3 million, from $648.0
million in the first quarter of 2012.
-- Sales volume increased by 11.0% year-over-year to approximately 1.3
million metric tons, compared with 1.2 million metric tons in the first
quarter of 2012.
-- Gross profit totaled $4.1 million, or 0.6% of revenue, compared with
$5.6 million, or 0.9% of revenue in the first quarter of 2012.
-- Operating income turned positive to $37.0 million, compared with an
operating loss of $(13.0) million in the first quarter of 2012.
-- Net income attributable to the Company was $3.1 million, or $0.06 per
diluted share, compared with a net loss of $(34.8) million, or $(0.63)
per diluted share in the first quarter of 2012.
-- Operating cash inflow improved to $3.9 million, compared with a net
outflow of $(167.0) million in the first quarter of 2012.
-- As of March 31, 2013, the Company had cash and restricted cash of $336.0
million.


John Chen, Chief Financial Officer of General Steel, commented, "The profitable financial results in the first quarter is a solid start for the new year, as we continued to grow sales, drive operational efficiencies, and lower finance expenses. Benefiting from a year-over-year improvement of nearly 600 basis points in our net margin and disciplined cash management, we were able to generate positive operating cash flow during the quarter. We anticipate a notable improvement in our overall gross margin in the second half of 2013, as our newly added rolling line will reduce unit production cost by up to approximately RMB 70 per metric ton, and as such, we feel confident that we can further build on the momentum achieved in the first quarter and generate healthy profits and cash flows in the second half of this year."


First Quarter 2013 Financial and Operating Results


Total Sales

Total sales for the first quarter of 2013 increased 0.5% year-over-year to $651.3 million, compared with $648.0 million in the first quarter of 2012. The year-over-year revenue increases were primarily attributable to increased sales volume, partially offset by a decrease in the average selling price of rebar.
-- Total sales volume in the first quarter of 2013 was 1.3 million metric
tons, an increase of 11.0% compared with 1.2 million metric tons in the
first quarter of 2012.
-- The average selling price of rebar decreased 12.5% to approximately
$515.3 in the first quarter of 2013 from approximately $588.7 in the
same period of 2012.


Gross Profit and Gross Margin

Gross profit for the quarter totaled $4.1 million, compared with $5.6 million in the first quarter of 2012. The decrease in gross profit was mainly attributable to a steeper decrease in average selling price, with the gross margin decreased to 0.6% of total sales in the first quarter of 2013, compared with 0.9% the same period a year ago.

Operating Expenses and Operating Income

Selling, general and administrative expenses for the first quarter of 2013 increased 1.7% to $19.0 million, compared to $18.6 million in the first quarter of 2012. General and administrative expenses increased to $10.9 million, compared with $9.7 million in the same period of 2012, due to increased expense in human resources and higher facility maintenance expense. Selling expenses decreased by 9.6% to $8.1 million, compared to $8.9 million in the same period of 2012. The decrease in selling expense was primary attributable to a savings in a special fund related to the sales of our products, which was no long imposed by the PRC tax authorities in 2013, while $1.3 million of the special fund was imposed in the first quarter of 2012.

The Company recognized other operating income of $51.9 million due to change in the fair value of profit sharing liability during the first quarter of 2013, compared with $0 in the same period of last year. On April 29, 2011, the Company's subsidiary, Longmen Joint Venture entered into a capital lease agreement with Shaanxi Steel and Shaanxi Coal for the use of new equipment. The profit sharing liability is recognized initially at its estimated fair value at the lease commencement date, and the value of the profit sharing liability is reassessed each reporting period with any change in fair value accounted for on a prospective basis. As such, and in consideration of the recent changes in China economic situation, the fair value of the Company's profit sharing liability has been reduced as compared to its previous estimates, and the Company recognized a gain of $51.9 million accordingly.

Correspondingly, income from operations for the first quarter of 2013 totaled $37.0 million, compared with a loss from operations of $(13.0) million in the first quarter of 2012.

Finance Expense

Finance and interest expense in the first quarter of 2013 was $30.0 million, of which, $10.2 million was the non-cash interest expense on capital lease as compared with $10.8 million in the same period of 2012, and $19.8 million was the interest expense on bank loans and discounted note receivables as compared with $37.5 million in the first quarter of 2012. The decrease in interest expense on bank loans and discounted note receivables was primarily attributable to less bank loans, benefiting from positive operating cash flow and financing support from suppliers during the first quarter of 2013.

Net Income and Net Income per Share

Net income attributable to General Steel for the first quarter of 2013 was $3.1 million, or $0.06 per diluted share, based on 54.8 million weighted average shares outstanding. This compares to a net loss of $(34.8) million, or $(0.63) per diluted share, based on 55.5 million weighted average shares outstanding in the first quarter of 2012.


Balance Sheet


As of March 31, 2013, the Company had cash and restricted cash of approximately $336.0 million, compared to $369.9 million as of December 31, 2012. The Company had an inventory balance of approximately $247.9 million as of March 31, 2013, compared to $212.7 million as of December 31, 2012. As of March 31, 2013, the Company had total liabilities of approximately $2.9 billion.

Outlook

"Looking ahead, we will continue to execute on our strategy to further upgrade our production capabilities, improve operating efficiencies and further strengthen our competitiveness in Western China. In addition, we will also explore other strategic opportunities to expand our scale and scope in the steel industry. Lastly, we intend to pursue other strategies and initiatives to enhance shareholder value, which may include restarting our share repurchase program. We aim to enhance shareholders' wealth, and we would like to thank our shareholders for their continued support," Mr. Yu concluded.


http://www.knobias.com/story.htm?eid=3.1.b61b573162afa2eee44d7ec2fdded3c409db89de2af35cb764ef09f7e1be0bad

[eastunder]

GSI: Q2 EPS 6c vs (63c) EPS +110% Y/Y

Tuesday , August 06, 2013 06:42ET


QUARTER RESULTS
General Steel Holdings Inc (GSI) reported Q2 results ended June 2013. Q2 Revenues were $502.40M; +30.90% vs yr-ago. Q2 EPS was 6c; +109.52% vs yr-ago.

Q2 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:       $502.40M      $383.80M     +30.90%           N/A         N/A 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:                  6c         (63c)    +109.52%           N/A         N/A 
 ----------  ------------  ------------  ----------  ------------  ----------

[eastunder]

I don't know anymore. I have this on my list of potential BK threats. It scares me. Hopefully they will pull out of it, eh?

[kmx_swing]

shall we wait for some miracle or for a massive dilution to solve partially the debt issue? I was expecting better performance based on their newly gained compliance...but the debt is the key issue here... :/
and no profit from operations as well, of course... :/

[eastunder]

GSI

http://www.stoxline.com/quote.php?symbol=gsi

http://shortsqueeze.com/?symbol=gsi&submit=Short+Quote%99

Support/Resistance

Type Value Conf.  
 resist. 1.35 2  
 resist. 1.14 5  
 resist. 1.02 50  
 supp    0.96 4  
 sup     0.94 2  
 supp    0.92 2 

Read more at http://www.stockta.com/cgi-bin/analysis.pl?symb=gsi&num1=1&cobrand=&mode=stock#raeMR1sS3qWP6dg2.99