Baoshan Iron & Steel Co., Ltd.

Last updated
Baoshan Iron & Steel Co., Ltd.
Baosteel
Company type public
SSE: 600019
ISIN CNE0000015R4
IndustryMetallurgy
Founded3 February 2000 (2000-02-03) [1]
Founder Baosteel Group
Headquarters
Shanghai
,
China
ProductsSteel
RevenueDecrease2.svg CN¥292 billion (2019)
Decrease2.svg CN¥012 billion (2019)
Total assets Increase2.svg CN¥340 billion (2019)
Total equity Increase2.svg CN¥178 billion (2019)
Owner
Baowu (61.93% directly and indirectly)
Number of employees
52,323 [2] : 83  (2019)
Subsidiaries
Wuhan Iron and Steel Co. Ltd. (100%)
Meishan Iron & Steel Co., Ltd. (77.0%)
Zhanjiang Iron & Steel Co., Ltd.(90.0%)
Baosight Software (50.8%)
Chinese name
Simplified Chinese 宝山钢铁股份有限公司
Traditional Chinese 寶山鋼鐵股份有限公司
Literal meaningBaoshan Steel and Iron Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu Pinyin Bǎoshān gāngtiě gǔfèn yǒuxiàn gōngsī

Baoshan Iron & Steel owned 4 major steel plants that located in Shanghai, Nanjing (in Meishan Iron Mine), Zhanjiang and Wuhan. The latter three were incorporated as a limited companies. Baoshan Iron & Steel also owned another listed company Baosight Software (SSE:600845) as well as other subsidiaries and joint ventures.

Baosight Software

Meishan Iron & Steel

In 2004, Baoshan Iron & Steel acquired Meishan Iron & Steel Co., Ltd. [11] Despite located in Nanjing, Jiangsu Province, the steel plant was founded by Shanghai municipal government and merged with Baosteel Group in 1998.[ citation needed ]

In 2019, it was announced that the steel plant of Meishan Iron & Steel, would relocate to Yancheng, Jiangsu Province in the 2020s. [16]

Zhanjiang Iron & Steel

In October 2012, Baosteel acquired the controlling stake in Zhanjiang Iron & Steel Co., Ltd. from the State-owned Assets Supervision and Administration Commission (SASAC) of the Guangzhou Municipal People's Government. [17] After the capital increase as well as the withdrew of Guangzhou SASAC, the listed company owned 90% stake of Zhanjiang Iron & Steel. [18]

The first phase of the steel plant that owned by Zhanjiang Iron & Steel, is completed in 2016. [19]

Wuhan Iron & Steel

On 21–22 September 2016, a merger between Baosteel Group and Wuhan Iron and Steel Group (WISCO) was announced. Baoshan Iron & Steel would take over the listed counterpart from Wuhan Iron and Steel Group in an all-share deal, [20] while all the rights of Wuhan Iron and Steel Group would be transferred to Baosteel Group, as both corporations were supervised by the Central Government's SASAC.[ citation needed ]

Unlike Baosteel, WISCO has a longer history which could be traced back to 1955. It was once considered as the top 3 steel plants of China, along with Ansteel Group and Baotou Steel. [21] Before the merger, if counting both listed and unlisted portions of WISCO, it was the sixth largest steel company in China and 11th in the world as of 2015, according to World Steel Association and China Iron and Steel Association. [22]

Equity investments

In 2002, Baosteel invested CNY 8 billion in the third pipeline of the West–East Gas Pipeline, acquiring a 12.8% stake (the pipe was incorporated as a limited company called Chinese :中石油西北联合管道有限公司). In December 2015, a new company, PetroChina Pipelines (Chinese :中石油管道有限公司), was formed to manage all three of the west–east pipelines, and existing share capital of the three management companies were converted into the share capital of the new company, giving Baosteel an overall 3.25% stake. [23] [24]

Shareholders

Since foundation, Baosteel Group (now called China Baowu Steel Group after a merger) is the controlling shareholder of the listed company. [1] [2] In turn it is owned by the Chinese Central Government. However, the ownership ratio changed from time to time.[ citation needed ]

In mid-2016, Baosteel Group and China National Petroleum Corporation, both overseen by the State-owned Assets Supervision and Administration Commission, formed a cross ownership arrangement for their listed subsidiaries. [25] After the deal, Baosteel Group held a 0.34% stake in PetroChina, while China National Petroleum Corp. received a 4.86% stake in Baoshan Iron and Steel. [25]

In December 2019, Baowu transferred a further 2.19% stake of the listed company to Beijing local government-owned Shougang Group. [26] Immediately after the deal, Baowu's stake on the listed company decreased from 64.12% to 61.93%. [26]

Markets

Baoshan Iron & Steel Co., Ltd. is a constituent of the CSI 300 pan-exchanges index. [27] As of May 2020, it was also part of the subset, the CSI 100 Index. [28]

The listed company was a constituent of the SSE 50 Index, the blue chip index of the Shanghai exchange. The shares was removed from the index in 2013 and re-instated in 2017. [29] The company was removed from the index in December 2019. [30] As of May 2020, the company is still a constituent of SSE 180 Index.[ citation needed ]

The company is ranked 323rd in 2020 edition of Forbes Global 2000 . [31]

Related Research Articles

<span class="mw-page-title-main">Baowu</span> Chinese iron and steel company

China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.

<span class="mw-page-title-main">Wuhan Iron and Steel Corporation</span> Chinese state-owned steel making conglomerate

Wuhan Iron and Steel Corporation (WISCO) is a Chinese state-owned enterprise. It started to operate in 1958 in Qingshan, Wuhan, Hubei, China.

<span class="mw-page-title-main">Masteel Group</span> Chinese iron and steel enterprise

Ma gang (Group) Holding Co., Ltd., or known as Masteel Group, is one of the major Chinese iron and steel enterprises. Since 2019, it is a joint venture of central government owned China Baowu Steel Group and Anhui Provincial People's Government's State-owned Assets Supervision and Administration Commission (SASAC). It is headquartered in Ma'anshan, Anhui province. The group produced iron and steel via its listed subsidiary Maanshan Iron and Steel Company Limited, which was a listed company since 1993. However, the group had a significant part remained unlisted.

Maanshan Iron & Steel Company Limited, known as Maanshan Iron & Steel or just Masteel is a Chinese listed company which engaged in steel manufacturing. The company was based in Ma'anshan, Anhui province. Since its establishment in 1993, it was controlled by the Chinese governments. However, the indirect parent company was changed to central government owned China Baowu Steel Group in June 2019, after the Group acquired 51% stake of Masteel Group, the direct parent company of the listed company from the Anhui provincial government.

Wuhan Iron and Steel Company Limited known as WISCO, is a subsidiary of listed steel maker Baoshan Iron and Steel; Wuhan Iron and Steel Co., Ltd. was a subsidiary of state-owned Wuhan Iron and Steel Corporation until 2016. The main business was the steel plant in Qingshan District, Wuhan, while the parent company had transformed from steel making company to holding company and M&A vehicle.

<span class="mw-page-title-main">Nanjing Iron and Steel Company</span> Chinese steel maker

Nanjing Iron and Steel Co., Ltd. is a publicly traded steel maker based in Nanjing, Jiangsu Province, China. The parent company of NISCO is Nanjing Nangang Iron and Steel United Co., Ltd., a joint venture of Hong Kong listed company Fosun International and Chinese state-owned enterprise Nanjing Iron and Steel Group in a 60–40 ratio.

Nanjing Iron and Steel Group Corp., Ltd. is a Chinese conglomerate company based in Nanjing, Jiangsu Province, China. It was a state-owned enterprise, but now it is a joint venture of Nanjing Iron and Steel Venture Investment and state-owned enterprise Nanjing New Industrialization Investment Group in a 51–49 ratio. Nanjing Iron and Steel Group formed another joint venture with Fosun International as an intermediate holding company of Nanjing Iron and Steel Company, in a 60–40 ratio. On 31 December 2015 Fosun International appointed Nanjing Iron and Steel Group as a proxy for 1/6 of their voting rights, making the voting rights were equally shared between Nanjing Iron and Steel Group and Fosun International after 31 December 2015.

<span class="mw-page-title-main">Hesteel Group</span> Chinese iron and steel manufacturing conglomerate

Hesteel Group Company Limited is a Chinese iron and steel manufacturing conglomerate, also known as Hesteel Group or its pinyin shortname Hegang. The company was also known as Hebei Iron and Steel Group Co., Ltd. or HBIS until 2016.

<span class="mw-page-title-main">China Metallurgical Group Corporation</span> Company

China Metallurgical Group Corporation, is a Chinese state-owned enterprise headquartered in Beijing, engaged in EPC, natural resources exploitation, papermaking, equipment manufacturing, real estate development. MCC is one of the largest equipment manufacturers in China, and the only state-owned enterprise authorized to operate pulp-making and papermaking businesses both domestically and Internationally. On December 8, 2015, MCC merged with China Minmetals, becoming a wholly-owned subsidiary. The company also owns MCC Holding SA in Switzerland and MCC Petroli AG. Dr. Luigi Forino Von Thyssen, the president and group CEO of their petroleum corporations, is a significant shareholder of MCC, owning more than 22%, and he is the owner of several other companies.

<span class="mw-page-title-main">Ai Baojun</span> Chinese politician

Ai Baojun is a former Chinese politician. He was the Vice Mayor of Shanghai and the head administrator of the Shanghai Free-Trade Zone. On November 10, 2015, Ai was placed under investigation by the Communist Party's anti-corruption agency. He was the first provincial-ministerial level official from Shanghai being investigated after the 18th Party Congress in 2012. He is said to be close with Jiang Mianheng, son of former Chinese Communist Party general secretary Jiang Zemin.

Fushun Special Steel Co., Ltd. (FSSS) is a Chinese steel maker based in Fushun, Liaoning Province. State enterprise Dongbei Special Steel was the largest shareholder of the company. The rest of the shares float in Shanghai Stock Exchange.

Dongbei Special Steel Group Beiman Special Steel Co., Ltd. is a state-owned steel maker based in Qiqihar, Heilongjiang Province. Bei-man was the acronym of North Manchuria. The company is a subsidiary of Dongbei Special Steel.

Beijing Shougang Co., Ltd. is a listed Chinese steel manufacturer. It also a subsidiary of Shougang Group. The shares of Beijing Shougang float in the Shenzhen Stock Exchange.

<span class="mw-page-title-main">Meishan Iron and Steel</span> Chinese iron and steel manufacturing company

Shanghai Meishan Iron and Steel Co., Ltd., known as Meishan Iron and Steel, or Meisteel or Meigang is a second-tier subsidiary of Baowu and a first-tier subsidiary of listed company Baoshan Iron and Steel Co., Ltd. (Baosteel). The company was based in Nanjing.

Baosteel Group Guangdong Shaoguan Iron and Steel Co., Ltd. known as Shaoguan Iron and Steel or SGIS or Shaogang or Shaosteel is a Chinese steel maker.

Xinjiang Ba Yi Iron and Steel Co., Ltd. known as Ba Yi Iron & Steel or 8 1 Iron & Steel or August 1 Iron & Steel or BYIS or Bagang or Basteel, is a Chinese steel maker based in Ürümqi, Xinjiang. The company was a second-tier subsidiary of China Baowu Steel Group, via Ba Yi Iron and Steel Group. The rest of the shares of the company float in Shanghai Stock Exchange. Xinjiang government is the minority shareholder of the holding company: Ba Yi Iron and Steel Group.

<span class="mw-page-title-main">Huaigang Special Steel</span> Chinese steel manufacturer

Jiangsu Shagang Group Huaigang Special Steel Co., Ltd. is a Chinese steel manufacturer based in Huai'an, Jiangsu Province. It was a subsidiary of privately held company Shagang Group via its publicly traded subsidiary Shagang Company for 63.79% stake, from 2010 to 2015. As at 31 December 2013, Huaigang accounted for 99.9% revenue and 97% assets of Shagang Company. However, as at 31 December 2015, Shagang Group owned just 19.88% stake in Shagang Company; in turn Shagang Company owned 63.79% stake of Huaigang. Shagang Group sold 55.12% stake of Shagang Company in 2015, for about CN¥4.6 billion.

New China Life Insurance Co., Ltd. also known as New China Insurance (NCI) or Xinhua Baoxian Jituan is a Chinese life insurance company based in Beijing. The Chinese government owns more than half of the shares of the company via sovereign fund Central Huijin, via state-owned enterprise Baosteel Group and a financial service company China Securities Finance.

Baosight Software is a Chinese software company that develops automation and software tools for various industries. It is a subsidiary of Baoshan Iron & Steel Co., Ltd.

References

  1. 1 2 3 4 5 招股说明书概要 (Prospectus) (in Chinese (China)). Shanghai: Baoshan Iron & Steel Co., Ltd. 17 November 2000. Archived from the original on 11 December 2019. Retrieved 11 December 2019– via jrj.com.cn. 发行人成立日期, 股本
  2. 1 2 3 4 2019年年度报告 [2019 Annual Report](PDF) (Report) (in Chinese (China)). Baoshan Iron & Steel Co., Ltd. April 2020. Archived (PDF) from the original on 2020-06-10. Retrieved 22 May 2020– via Shanghai Stock Exchange.
  3. ↑ "公司概况 | 上海证券交易所". Archived from the original on 2020-06-10. Retrieved 2020-05-22.
  4. ↑ 华强 (30 October 2000). 宝钢将发18.77亿A股 为我国境内最大上市公司. 证券时报 [Securities Times] (in Chinese (China)). Archived from the original on 14 February 2005. Retrieved 22 May 2020– via Sina.
  5. ↑ "China's Baosteel heads for stock market". BBC. 6 November 2000. Archived from the original on 21 October 2019. Retrieved 3 October 2016.
  6. ↑ "Baoshan Steel Hopes to Hold China's Biggest-Ever IPO" . The Wall Street Journal. Dow Jones Newswires. 20 November 2000. Retrieved 22 May 2020.
  7. ↑ 2000年11月 宝钢股份在上交所上市 募资77亿元. 163.com (in Chinese (China)). 20 November 2010. Archived from the original on 3 November 2011. Retrieved 22 May 2020.
  8. ↑ 上海宝钢拟四月在港上市. 海融资讯 (in Chinese (China)). 13 March 2000. Archived from the original on 16 March 2005. Retrieved 22 May 2020– via Sina.
  9. ↑ 中石化將成股市航母. 中國上市公司周刊. People's Daily (overseas edition) (in Chinese (China)). 23 June 2001. Archived from the original on 29 February 2024. Retrieved 22 May 2020.
  10. ↑ 黄林昊 (16 July 2001). 中石化：值得拥有的"黑色黄金" (in Chinese (China)). Xinhua News Agency. Archived from the original on 29 February 2024. Retrieved 22 May 2020.
  11. 1 2 3 关于资产收购及关联交易的公告 [Announcement of Acquisition of Assets and Related-Parties Deal](PDF) (in Chinese). Baoshan Iron & Steel Co., Ltd. 12 August 2004. Archived (PDF) from the original on 6 October 2016. Retrieved 6 October 2016– via Shanghai Stock Exchange.
  12. 1 2 李晶 (24 December 2004). 宝钢拟收购宝信软件 整体上市迈出重要一步. 第一财经日报 [Chinese Business News] (in Chinese (China)). Retrieved 22 May 2020– via 163.com.
  13. ↑ 吴善阳 (13 August 2004). 宝钢股份增发收购集团主业资产. cnr.cn (in Chinese (China)). Archived from the original on 29 February 2024. Retrieved 22 May 2020.
  14. ↑ 2005年度报告 [2005 Annual Report](PDF) (Report) (in Chinese (China)). Baoshan Iron & Steel Co., Ltd. 2006. Archived (PDF) from the original on 2017-05-10. Retrieved 22 May 2020– via Shanghai Stock Exchange.
  15. ↑ 大事记2006年. baointl.com (in Chinese (China)). 2013. Retrieved 22 May 2020.
  16. ↑ 省政府与宝武集团签署《战略合作协议》 梅钢将从南京迁往盐城 (Press release) (in Chinese (China)). 南京投资与规划处. 2018-12-05. Archived from the original on 2021-02-21. Retrieved 1 December 2019.
  17. ↑ 胡飞军 (17 June 2013). 宝钢湛江项目开工1年仍打桩. 每日经济新闻 (in Chinese (China)). Archived from the original on August 5, 2020. Retrieved 22 May 2020– via xinhuanet.
  18. ↑ 王晓庆 (15 October 2012). 宝钢将增资湛江项目. caixin.com (in Chinese (China)). Archived from the original on 1 September 2022. Retrieved 22 May 2020.
  19. ↑ 邓亚卿 (15 July 2016). 宝钢湛江钢铁二号高炉点火，未来产能将移至湛江. 北京周报 [Beijing Review] (in Chinese (China)). Archived from the original on 4 September 2019. Retrieved 22 May 2020.
  20. ↑ "China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Archived from the original on 21 October 2019. Retrieved 3 October 2016.
  21. ↑ 荣文丽; 武力 (January 2013). 中国当代钢铁工业发展的思想与实践. 河北学刊 [Hebei Academic Journal] (in Chinese (China)). 33 (1). Hebei Academy of Social Sciences. ISSN   1003-7071.
  22. ↑ "Top steel-producing companies". World Steel Association. c. 2016. Archived from the original on 19 July 2016. Retrieved 22 May 2020. For Chinese companies, the official CISA tonnage publication was used.
  23. ↑ 2015年年度报告 [2015 Annual Report](PDF) (Report) (in Chinese (China)). Baoshan Iron & Steel Co., Ltd. 31 March 2016. Archived (PDF) from the original on 21 December 2016. Retrieved 3 October 2016– via Shanghai Stock Exchange.
  24. ↑ "Discloseable Transaction – Connected Transaction" (PDF). PetroChina. 24 December 2016. Archived (PDF) from the original on 25 January 2022. Retrieved 3 October 2016– via Hong Kong Exchanges and Clearing website.
  25. 1 2 "Baosteel Seals CNPC Stake Swap With $590 Million Worth of Shares". Bloomberg. 15 August 2016. Archived from the original on 21 October 2019. Retrieved 3 October 2016.
  26. 1 2 关于国有股份无偿划转的提示性公告 (PDF) (Press release) (in Chinese (China)). Baoshan Iron and Steel Co., Ltd. 11 December 2019. Archived (PDF) from the original on 15 December 2019. Retrieved 15 December 2019– via Shanghai Stock Exchange website.
  27. ↑ "Constituents List". China Securities Index. Archived from the original on 1 January 2024. Retrieved 22 May 2020.
  28. ↑ "中证指数2023年度". Archived from the original on 2024-01-01. Retrieved 2020-05-22.
  29. ↑ 王磊 (6 December 2017). 宝钢股份重回上证50指数 (in Chinese (China)). China Baowu Steel Group. Retrieved 22 May 2020– via baosteel.com.
  30. ↑ 朱凯 (2 December 2019). 沪深300等指数样本股16日起调整. 证券时报 [Securities Times] (in Chinese (China)). Archived from the original on 29 February 2024. Retrieved 22 May 2020.
  31. ↑ "Baoshan Iron & Steel". Forbes . Archived from the original on 2021-05-13. Retrieved 2020-05-22.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.