Baosteel Group Corporation (hereinafter as Baosteel) is a legally incorporated state-owned sole corporation for which the State-owned Assets Supervision & Administration Commission under the State Council performs the duty of investor on behalf of the State Council. Baosteel is entitled to civil rights and assumes civil liabilities according to the laws, and bears the responsibility for corporate liabilities with all of its assets.
Baosteel is the most competitive steel complex in China. On December 23,1978, ground was broken for the construction of Baosteel. In November 1998, Baosteel consolidated Shanghai Metallurgical Holding Group (SMHG) and Meishan Iron & Steel Co., Ltd., became the investment institution authorized by the state and the pilot enterprise for state holding company. In February 2000, Baoshan Iron & Steel Co., Ltd. (hereinafter as Baosteel Ltd.) was set up officially and listed in Shanghai Stock Exchange in December of the same year. In 2007, Baosteel consolidated Xinjiang Bayi Steel Plant. In 2008, Baosteel, Guangzhou Iron & Steel Enterprises Group and Shaoguan Iron & Steel Group were reorganized and established Guangdong Iron &Steel Group Corporation, and Zhanjiang Steel Manufacture Base was built up at the same time for discarding backward production facilities. In March 2009, Baosteel signed the agreement with Hangzhou Iron & Steel Group Corporation to take over and reorganize Ningbo Iron & Steel Co., Ltd.
The steel business of Baosteel was based on producing high-tech steel products with high added values. The three major product series, namely straight carbon steels, stainless steels and special steels, are widely used in industries such as automobile, home appliances, petrochemical, machine building,energy and transportation, construction and decoration, metalwork, aerospace and aviation, nuclear energy and electronic devices, etc. Baosteel's products are selling well in domestic and foreign markets through the sales network around the world. It not only dominates the domestic steel sheet market but also exports the quality steel products to more than 40 countries and areas including Japan, Korea and other American and European countries.
By the end of 2010, Baosteel owned a total assets of RMB 432.1 billion, owner's equity of RMB 260.2 billion. In 2010, Baosteel registered a total operating revenue of RMB 273 billion, and a pre-tax profit of 24.2 billion. By the end of 2010, the total staff is 118500 people.
In recent years, Baosteel stepped up the consolidation of internal and external resources for the construction of steel supply chain, technology chain and resources utilization chain, enhanced competitiveness, improved its standing in the industry, and has formed the business structure of synergetic development of the main steel production business and 6 related industries, i.e. resources development & logistics, steel secondary processing, engineering technology service, coal chemical, financial investment and production service, etc.
Baosteel produced 44.50 million tons of steel in 2010, ranking No.3 among the global steelmakers. Baosteel entered Fortune Global 500 for 8 years in a row, and ranked No. 212th in 2010.
Product Categories