Xinjiang Ba Yi Iron and Steel

Ba Yi Iron and Steel Group
state-owned enterprise
Industry Iron and steel manufacturing
Founded
  • 1951 (as steel plant)
  • 20 October 1995 (1995-10-20) (as company)[1]
Headquarters Ürümqi, Xinjiang, China
Area served
 China
Revenue Decrease CN¥11.4 billion (2015)
Decrease (CN¥5.2 billion) (2015)
Profit Decrease (CN¥3.9 billion) (2015)
Total assets Decrease CN¥47.3 billion (2015)
Total equity Decrease CN¥3.8 billion (2015)
Owner
Parent Baosteel Group
Subsidiaries Ba Yi Iron and Steel (50.02%)
Website bygt.com.cn
Footnotes / references
in a consolidated basis[2]
Ba Yi Iron and Steel
public
Traded as SSE: 600581
Industry Iron and steel manufacturing
Founded 27 July 2000 (2000-07-27)
Headquarters Ürümqi, Xinjiang, China
Area served
 China
Revenue Decrease CN¥10.6 billion (2015)
Decrease (CN¥2.5 billion) (2015)
Profit Decrease (CN¥2.5 billion) (2015)
Total assets Decrease CN¥18.3 billion (2015)
Total equity Decrease (CN¥905 million) (2015)
Owner Ba Yi Iron and Steel Group (50.02%)
Parent Ba Yi Iron and Steel Group
Footnotes / references
in a consolidated basis[3]
Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd.
Simplified Chinese 宝钢集团新疆八一钢铁有限公司
Traditional Chinese 寶鋼集團新疆八一鋼鐵有限公司
Literal meaning Baosteel Group Xinjiang August 1 Steel and Iron Limited [Liability] Company
Xinjiang Ba Yi Iron and Steel Co., Ltd.
Simplified Chinese 新疆八一钢铁股份有限公司
Traditional Chinese 新疆八一鋼鐵股份有限公司
Literal meaning Xinjiang August 1 Steel and Iron Joint-Stock Limited Company

Xinjiang Ba Yi Iron and Steel Co., Ltd. known as Ba Yi Iron & Steel or 8 1 Iron & Steel or BYIS or Bagang (Chinese: 八钢) or Basteel, is a Chinese steel maker based in Ürümqi, Xinjiang. The company was a second-tier subsidiary of Baosteel Group, via Ba Yi Iron and Steel Group (now known as "Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd."). The rest of the shares of the company float in Shanghai Stock Exchange.

History

Ba Yi Iron and Steel Group

The steel plant in Ürümqi (Chinese: 新疆八一钢铁总厂) was found in 1951[4] by the People's Liberation Army (PLA), thus it was named "8 1", the date of the establishment of PLA on 1 August 1927. It was one of the 18 small-sized steel plants established in 18 provinces of China.[5] Ba Yi Iron and Steel was one of the 512 important state-owned enterprises in 1997. (1 of 47 iron and steel insudtry)[6]

It became a limited company after the marketization of China. A subsidiary was incorporated in 2000 to float the main steel manufacturing business in the stock exchange.

In 2007 Ba Yi Iron and Steel Group was renamed from "Xinjiang Ba Yi Iron and Steel Group Co., Ltd." (Chinese: 新疆八一钢铁集团有限责任公司) to "Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd." (Chinese: 宝钢集团新疆八一钢铁有限公司). Baosteel Group acquired 69.56% stake of the company by injecting new share capital into the group (for CN¥3 billion), diluting the stake of the State-owned Assets Supervision and Administration Commission (SASAC) of the People's Government of Xinjiang Uyghur Autonomous Region to 15%. Xinjiang SASAC also transferred their stake to their wholly owned subsidiary "Xinjiang Investment Development (Group) Co., Ltd." (Chinese: 新疆投资发展(集团)有限责任公司) in the same year. In 2014 Ba Yi Iron and Steel Group was recapitalized again. The other shareholders of the group was China Huarong Asset Management for 7.95% stake and "Xinjiang Uyghur Autonomous Region Financing Guarantee Co., Ltd." (Chinese: 新疆维吾尔自治区融资担保有限责任公司) for 0.12% stake.

Ba Yi Iron and Steel Joint-Stock Company

Xinjiang Ba Yi Iron and Steel Co., Ltd. (Chinese: 新疆八一钢铁股份有限公司) was incorporated in 2000. In 2002 the shares were floated in Shanghai Stock Exchange.

References

  1. ↑ Government database (in Chinese)
  2. ↑ "2015 Annual Report". Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd. (in Chinese). archive of Shanghai Clearing House. 29 April 2016. Retrieved 11 October 2016.
  3. ↑ "2015 Annual Report" (PDF). Xinjiang Ba Yi Iron and Steel Co., Ltd. (in Chinese). archive of Shanghai Stock Exchange. 29 March 2016. Retrieved 11 October 2016.
  4. ↑ http://www.baosteel.com/group/contents/1754/30199.html
  5. ↑ "中国当代钢铁工业发展的思想与实践" (PDF). Hebei Academic Journal (in Chinese). 2013.
  6. ↑ http://blog.sina.com.cn/s/blog_544a7adf0100mwmj.html
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