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The new round of development will focus more on building a high-quality steel ecosystem

2019-11-13 14:15:54
On November 8th, at the second China International Import Expo, the steel central enterprise China Baowu Iron and Steel Group Co., Ltd. (referred to as China Baowu) held the International Forum on Steel Ecosphere and the Global Signing Ceremony.
Hu Wangming, general manager of China Baowu and deputy secretary of the party committee, said at the scene that China Baowu hopes to make full use of the opportunity of the Expo to hold the international forum of steel industry and global signing ceremony to reach out to all strategic partners of the world. Demonstrate the value proposition of China Baowu to discuss, build and share a high-quality steel ecosystem.
The so-called steel ecosystem is a collection of core businesses such as steel manufacturing, steel plate trading, steel logistics, raw fuel, finance, data, technology, and park development in the field of steel smart manufacturing + smart services. A multi-functional steel industry ecosystem.
In addition, in 2018, China's domestic crude steel output is more than 900 million tons, and the original fuel purchase volume is about 2 billion tons. The entire steel ecosystem is more than ten times larger than Baowu and related companies. The entire steel industry is expanding, and the future development of the steel ecosystem is broad and has unlimited prospects." Hu Wangming mentioned.
China Baowu was jointly reorganized by the former Baosteel Group Co., Ltd. and Wuhan Iron and Steel (Group) Co., Ltd., and was unveiled on December 1, 2016. The steel production capacity is 70 million tons, ranking first in China and second in the world. The most modern and competitive steel conglomerate. At the same time, China Baowu is also a pilot enterprise of state-owned capital investment companies.
In the past 2018, China Baowu's total assets amounted to 711.8 billion yuan. The annual revenue was 438.6 billion yuan, and the profit was 33.8 billion yuan, a year-on-year increase of 19.6 billion yuan. The operating results doubled year-on-year. The annual output of steel is 67.25 million tons, including weathering steel, carbon steel, and so on. It ranks first in China and second in the world. It ranks first in the world in terms of sales of electrical steel and third in sales of cold-rolled automotive panels.