China News Agency, Beijing, December 23 (Reporter Pang Wuji) The reorganization kick-off meeting of China Baowu and Sinosteel Group was held in Beijing and Shanghai on the 23rd.
China's Baowu "steel aircraft carrier" has been expanded again.
A few days ago, the official website of the State-owned Assets Supervision and Administration Commission of the State Council stated that, with the approval of the State Council, China Baowu Iron and Steel Group Co., Ltd. , no longer as an enterprise under the direct supervision of the State-owned Assets Supervision and Administration Commission.
Weng Jieming, member and deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, said on the 23rd that China Baowu and Sinosteel both came from the (former) Ministry of Metallurgical System. The industrial layout and the improvement of the modernization level of the steel industry are of great significance, and it also marks that the two companies are standing at a new historical starting point and shouldering a more important mission.
China Baowu was reorganized from the original Baosteel Group Co., Ltd. and Wuhan Iron and Steel (Group) Corporation.
This "steel aircraft carrier" was inaugurated in December 2016.
Since then, China Baowu has successively jointly reorganized Maanshan Iron and Steel Group, Taiyuan Iron and Steel Group, and Shandong Iron and Steel Group, actually controlled Chongqing Iron and Steel, integrated Xinjiang steel enterprises, joined hands with Guangdong Province to form China Baowu Zhongnan Iron and Steel, hosted Kunming Iron and Steel, and controlled Xinyu Iron and Steel.
According to the "World Steel Statistics 2022" released by the World Iron and Steel Association, China's Baowu will produce nearly 120 million tons of crude steel in 2021, ranking first in the world for two consecutive years.
The industry believes that China Baowu's series of reorganization is not a simple superposition of production capacity, but to optimize resource allocation, increase industry concentration, solve problems such as scattered, chaotic, and small in the industry, and promote the transformation and efficiency of the steel industry.
China Baowu Party Secretary and Chairman Chen Derong said on the same day that with the joint reorganization and entrusted management of many important enterprises in the industry in recent years, the results of China Baowu's joint reorganization and professional integration have been tested by the market and widely recognized by the industry.
Since China Baowu took the trusteeship of Sinosteel Group for two years, the reform and development of Sinosteel Group has achieved remarkable results: operating performance has continued to refresh the best level in history, debt restructuring has achieved major breakthroughs, and capital operations have blossomed. Sinosteel Luonai took the lead in science and technology innovation The board was successfully listed. The total market value of the two listed companies, Sinosteel International and Sinosteel Tianyuan, increased by 64% compared with that before the trusteeship, bucking the trend and outperforming the market index.
He emphasized that the strategic reorganization of the two companies will be promoted in compliance with laws and regulations, and matters such as reorganization and delivery will be promptly implemented after the completion of domestic and foreign anti-monopoly reviews.
After the reorganization of the two companies, they will focus on the main business, embody professionalism, and strengthen the industry, actively promote the implementation of the package plan of "debt restructuring + business integration + management reform", and fully tap the "combination" between Sinosteel's main business and China Baowu. Based on the synergistic potential of the five-yuan business, we will accelerate the cultivation of a group of specialized, special new and single champion enterprises in the industry segments of Sinosteel Group, and help China Baowu create a world-class enterprise.
Liu Andong, Secretary of the Party Committee and Chairman of Sinosteel Group, said that China Baowu and Sinosteel Group have launched a strategic reorganization, marking that Sinosteel will enter a new stage of development.
Under the guidance of China Baowu's strategic plan, Sinosteel will actively leverage its professional characteristics and comparative advantages in the fields of mineral resources development, engineering equipment, and new technological materials, further focus on specialization, specialization, and new technologies, make good use of the Sinosteel brand, and strive to build New advantages in industrial competition, and strive to become a leading enterprise in the industrial ecosystem by the end of the "14th Five-Year Plan".
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