Baowu
Chairman ) | |
Products | Steel, flat steel products, long steel products, wire products, plates |
---|---|
Revenue | $79.93 Billion |
Owner | |
Subsidiaries | see list |
Website | www.baowugroup.com |
Footnotes / references [3] |
China Baowu Steel Group Corporation Limited | |
---|---|
Hanyu Pinyin | Zhōngguó Bǎowǔ Gāngtiě Jítuán yǒuxiàn Gōngsī |
Baowu | |
---|---|
Hanyu Pinyin | Bǎowǔ |
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.[4] 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.[5]
In 2015, Baowu was the second largest steel producer in the world measured by crude steel output, with an annual output of around 35 million tons (China's total steel production in 2015 was 803.8 million tons[6]), and employed 130,401 employees as of the end of 2012, had annual revenues of around $21.5 billion, and produces a mix of products.[7] In 2019, the company closed the gap with ArcelorMittal reaching 95.47 million tons of steel, and hitting $78 billion in revenues,[1] with 195 434 employees.[2]
According to World Steel Association (Chinese companies data were 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).[8] A plan to merge with Wuhan Iron and Steel Corporation was announced on 21–22 September 2016,[9] which would make the combined production volume the second highest in the world (34.938 million + 25.776 million), after ArcelorMittal (97.136 million in 2015), surpassing 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[10] and July 2016,[11] and a further cut for Baosteel Group of 2.10 million while a 3.15 million cut was already planned[12] the final ranking may still significantly change.
The
History
Baoshan Iron and Steel
In 1978, as part of the Chinese government's
Initially, the firm limited its exports to just 10% of steel production, hoping to fulfill domestic demand.[14]
Baoshan Iron and Steel also benefitted from the Chinese economic expansion which consumed all the steel available.[
Baosteel Group
On November 17, 1998, the former Baoshan Iron and Steel (Group) Corporation absorbed the Shanghai Metallurgical Holding Group Corporation (上海冶金控股集团公司) and the "
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.[17] It followed the parent company to become a subsidiary of Baosteel Group in 1998.[18]
In 2000, a subsidiary
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 [Company Limited by Shares].[19]
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.[20]
In 2011, Baosteel Group acquired 51% stake of Guangdong Shaoguan Iron and Steel Group from SASAC of Guangdong Government. In April 2012, Shaoguan Iron and Steel Co, Ltd. was established.[21]
Boasteel owns the 85% of held resources company Aquila Resources Pty Ltd, through Baosteel Resources.[22]
Boasteel developed a sales and distribution network in China and foreign countries. Boasteel overseas subsidiaries controls key minerals resources for steel production, such as the Majishan ore terminal in the port of Zhoushan.[16] Baosteel also invested in steel-related industries such as Baoxin Software and Baosteel Chemical.[16]
Baowu
On 21–22 September 2016, a plan to merge Baosteel Group and fellow state-owned steel maker
In early 2016, Baosteel Group was accused by
In 2019, China Baowu Steel Group acquired 51% stake of
By 2020 the company had become the largest steel manufacturer in the world by volume.[31]
In 2022, Baowu acquired fellow state-owned enterprise Sinosteel.[32][33][34]
Subsidiaries
- Steel plants
- )
- Baosight Software
- Shanghai Meishan Iron and Steel (77.04%)
- Wuhan Iron and Steel Company(100%)
- Zhanjiang Iron and Steel
- 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%)
- Xinjiang Ba Yi Iron and Steel (50.02%, SSE: 600581)
- )
- Mining conglomerate
- Shanghai Meishan Co., Ltd. (100%)
- Sinosteel (100%)
- Financial companies
- Hwabao Investment (100%)
- Fortune Investment (100%)
- Others
- Guangdong Iron and Steel Group (100%)
![]() |
Equity investments
Baosteel Group was a minority owner of
Baosteel Group, as at 31 December 2015, still owned 15.11% stake in
References
- general
- specific
- ^ a b "China Baowu Steel Group | 2020 Global 500". Fortune. Retrieved 7 April 2021.
- ^ a b "China: Baowu Steel Group number of employees 2014-2019". Statista. Retrieved 7 April 2021.
- ^ "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"
- ^ "Fitch Revises Baowu's Outlook to Positive; Affirms IDR at 'A'". Retrieved 2023-08-21.
- ^ "Worldsteel | World crude steel output decreases by -2.8% in 2015". Archived from the original on 2017-02-02. Retrieved 2016-12-26.
- ISBN 0-446-17829-2.
- ^ "World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
- ^ "China deal to create world's second-largest steelmaker". Financial Times. 21 September 2016.
- ^ "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. Archived from the original (PDF) on 12 October 2016. Retrieved 3 October 2016.
- ^ "宝钢实施全方位结构调整和转型升级" (in Chinese (China)). Baosteel Group. 19 August 2016. Retrieved 4 October 2016.
- ^ "China's Baosteel heads for stock market". BBC. 6 November 2000. Retrieved 3 October 2016.
- ^ from the original on 2021-01-25. Retrieved 2021-01-25.
- JSTOR 30172402. Retrieved 4 June 2021.
- ^ ISBN 9789814338431.
- ^ Company Profile Shanghai Krupp Stainless
- ^ Publisher, Stainless Steel World (2001-11-05). "Germany and China undertake joint venture". Stainless Steel World.net. Retrieved 4 June 2021.
- ^ "Baosteel acquisition deal approved". www.chinadaily.com.cn. Retrieved 4 June 2021.
- ^ Shen, Samuel; Cang, Alfred; Billingham, Erica (2008-06-23). "Baosteel to pay $4.2 billion for Guangdong acquisition". Reuters. Retrieved 4 June 2021.
- ^ "BAOSTEEL GROUP | Iron & Steel". www.baosteel.com. Retrieved 4 June 2021.
- ^ "Aquila Resources Pty Ltd (Aquila) is a privately held resources company with substantial interests in the bulk commodities of metallurgical coal and iron ore. | Aquila Resources". www.aquilaresources.com.au. Retrieved 7 April 2021.
- ^ "China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Retrieved 3 October 2016.
- ^ "Announcement: Moody's says China Baowu Steel nears full merger with Wuhan Steel; no rating impact". Moody's. 6 December 2016. Retrieved January 25, 2017.
- ^ Levit, Donald (January 22, 2017). "China's Steel Reform Shifts Into Higher Gear". Economic Calendar. Archived from the original on January 23, 2017. Retrieved January 25, 2017.
- ^ "China Baowu Steel Group officially established". Steel Orbis. December 5, 2016. Retrieved January 25, 2017.
- ^ "China's Baosteel Group says U.S. Steel accusations groundless". Reuters. April 29, 2016. Retrieved January 25, 2017.
- ^ "U.S. panel launches trade secret theft probe into China steel". Reuters. May 29, 2016. Retrieved January 25, 2017.
- ^ Wu, Wendy (3 July 2018). "'A victory for Chinese steel and US law': why a lawyer thinks Chinese companies can put faith in the American legal system". South China Morning Post. Retrieved 23 September 2021.
- ^ "Zhōngguó bǎowǔ "wúcháng" shōugòu mǎgāng gāngtiěyè jiānbìng chóngzǔ tísù" 中国宝武“无偿”收购马钢 钢铁业兼并重组提速. 第一财经 (Yicai) (in Chinese (China)). Shanghai. 3 June 2019. Retrieved 18 June 2019.
- ^ "China's Baowu unseats ArcelorMittal as world's top steelmaker," Nikkei Asia, retrieved 14 July 2021
- ^ "China's Baowu Steel absorbs Sinosteel in state-backed deal". Nikkei Asia. Archived from the original on 2022-12-24. Retrieved 2022-12-24.
- ^ "China Baowu Steel Officially Takes Over Sinosteel - Caixin Global". www.caixinglobal.com. Retrieved 2022-12-24.
- ^ "FLASH: Baowu gets Beijing approval to acquire Sinosteel Group | Mysteel". www.mysteel.net. Retrieved 2022-12-24.
- ^ "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.