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|Xu Lejiang (Chairman and Party Committee Secretary)|
|Products||Steel, flat steel products, long steel products, wire products, plates|
|Owner||Central People's Government (100%)|
|Parent||State-owned Assets Supervision and Administration Commission of the State Council|
|Footnotes / references
|Shanghai Baosteel Group Corporation Limited|
|Literal meaning||Shanghai Bao-steel Group Limited [Liability] Corporation|
|Literal meaning||Baoshan Steel|
Baosteel is the fourth-largest steel producer in the world measured by crude steel output (after ArcelorMittal), with an annual output of around 40 million tons (China's total steel production in 2012 was 716 million tons). It employs 130,401 employees as of the end of 2012, has annual revenues of around $21.5 billion, and produces a mix of products.
According to World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 5th in 2015 the world ranking by production volume (2nd in China for 34.938 million metric tons). A plan to merge with Wuhan Iron and Steel Corporation was announced on 21–22 September 2016, the pro forma production volume would be the second in the world (34.938 million + 25.776 million), after ArcelorMittal (97.136 million in 2015), suppressing Hesteel Group (47.745 million in 2015). Since Baosteel Group and Wuhan Iron and Steel Corporation also announced targets of cutting 3.95 and 4.42 million metric tons production capacity respectively in June and July 2016, and a further cut for Baosteel Group of 2.10 million and 3.15 million were already planed the final ranking may still significantly change.
The IPO of the subsidiary of Baosteel Group on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.
In 1997, a subsidiary of Shanghai Metallurgical Holding, the former Shanghai No.3 Iron and Steel Plant, Shanghai Pudong Iron and Steel, formed a joint venture with ThyssenKrupp of Germany, as Shanghai Krupp Stainless. It followed the parent company to become a subsidiary of Baosteel Group in 1998.
In 2000, a subsidiary Baoshan Iron & Steel Co., Ltd. was formed to list a portion of the group in Shanghai Stock Exchange, while Shanghai No.1st, 2, 3 and 5 Iron and Steel Plants of the group were remaining unlisted. In 2004, the listed subsidiary acquired Meishan Iron and Steel from Baosteel Group (via Shanghai Meishan Group).
In 2007 Baosteel Group acquired the majority stake of Xinjiang Ba Yi Iron and Steel Group, which was the parent company of Ba Yi Iron and Steel [Joint-Stock Company].
In 2008 Baosteel Group expended in Southern China, which planned to build a new facility in Zhanjiang, Guangdong, which formally started by its subsidiary Baoshan Iron & Steel in 2012, by acquiring 71.8032% stake of Zhanjiang Iron and Steel for CNY4.976 billion from State-owned Assets Supervision and Administration Commission of Guangzhou City.
In 2011, Boasteel Group acquired 51% stake of Guangdong Shaoguan Iron and Steel Group from SASAC of Guangdong Government.
On 21–22 September 2016, a plan to merge Baosteel Group and fellow state-owned steel maker Wuhan Iron and Steel Corporation was announced. Baoshan Iron and Steel, the listed portion of Baosteel Group would takeover the counterpart Wuhan Iron and Steel Company in an all-share deal, while the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group for free as a wholly owned subsidiary. Both Baosteel Group and Wuhan Iron and Steel Corporation were supervised by SASAC of the Central Government. The provisional name of the new group would be Baowu Iron and Steel Group.
- steel plants
- Baoshan Iron and Steel (SSE: 600019)
- Shanghai First Iron and Steel Co., Ltd.
- Shanghai Second Iron and Steel Co., Ltd.
- Shanghai Pudong Iron and Steel Co., Ltd.
- Shanghai Fifth Iron and Steel Co., Ltd.
- Guangdong Shaoguan Iron and Steel (51%)
- Wuhan Iron and Steel Corporation (100%)
- Guangxi Iron and Steel Group (100%)
- Xinjiang Ba Yi Iron and Steel Group (76.93%)
- mining conglomerate
- Shanghai Meishan Co., Ltd. (100%)
- financial companies
- Hwabao Investment (100%)
- Fortune Investment (100%)
- Guangdong Iron and Steel Group (100%)
Baosteel Group was a minority owner of Metallurgical Corporation of China Limited for 0.65% (as at 30 June 2010). Excluding the investment held by the listed subsidiary Baoshan Iron and Steel, Baosteel Group owned 0.88% stake (via Hwabao Investment) in PetroChina Pipelines, the company that runs West–East Gas Pipeline.
Baosteel Group, as at 31 December 2015, still owned 15.11% stake in New China Life Insurance, a listed company in both Hong Kong and Shanghai Stock Exchange, as well as China Bohai Bank for 11.67% stake, China Pacific Insurance for 14.17% stake.
- "About Baosteel". Archived from the original on 2011-07-07. Retrieved 2009-12-11.
- "Contact Us." Baosteel. Retrieved on November 10, 2012. "ADD:Baosteel Tower, Pu Dian Road 370, Pudong New District, Shanghai, 200122, P.R. China Postal Code:200122" - Chinese: "上海市浦东新区浦电路370号宝钢大厦"
- Annual steel output of China in 2012
- Sirkin, Harold L.; James W. Hemerling; and Arindam K. Bhattacharya (2008-06-11). GLOBALITY: Competing with Everyone from Everywhere for Everything. New York: Business Plus, 304. ISBN 0-446-17829-2.
- "化解钢铁过剩产能公告" (in Chinese). Baosteel Group. 30 June 2016. Retrieved 4 October 2016.
- "武汉钢铁(集团)公司关于化解过剩产能实施脱困发展的公告" (PDF). Wuhan Iron and Steel Corporation. 7 July 2016. Retrieved 3 October 2016.
- "宝钢实施全方位结构调整和转型升级" (in Chinese). Baosteel Group. 19 August 2016. Retrieved 4 October 2016.
- "China's Baosteel heads for stock market". BBC. 6 November 2000. Retrieved 3 October 2016.
- Company Profile Shanghai Krupp Stainless
- "China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Retrieved 3 October 2016.
- "2010 Interim Report" (PDF). Metallurgical Corporation of China Limited. archive of Hong Kong Stock Exchange. 24 August 2010. Retrieved 3 October 2016.
- "DISCLOSEABLE TRANSACTION, CONNECTED TRANSACTION" (PDF). PetroChina. archive of Hong Kong Stock Exchange. 24 December 2016. Retrieved 3 October 2016.
- "2015 Annual Report" (PDF). New China Life Insurance. archive of Hong Kong Stock Exchange. 17 April 2016. Retrieved 4 October 2016.
- "2015 Annual Report" (PDF). China Bohai Bank. 16 June 2016. Retrieved 17 October 2016.
- "2015 Annual Report" (PDF). China Pacific Insurance. archive of Hong Kong Stock Exchange. 27 April 2016. Retrieved 20 October 2016.