Taiyuan Iron and Steel Group

Taiyuan Iron and Steel Group
Taigang Group
Formerly
 Taiyuan Iron & Steel Corporation
state-owned enterprise
Industry Conglomerate
Founded
  • 1934
  • 1996 (1996) (as limited company)
Headquarters Taiyuan, China
Area served
 China, exported worldwide
Products Steel, iron ore, coke, real estate
Revenue Decrease CN¥90.835 billion (2015)
Decrease (CN¥5.139 billion) (2015)
Decrease (CN¥3.357 billion) (2015)
Total assets Decrease CN¥125.827 billion (2015)
Total equity Decrease CN¥28.875 billion (2015)
Owner Shanxi Government (100%)
Parent Shanxi SASAC
Subsidiaries
  • Taigang Stainless Steel (63.49%)
  • Linfen Iron & Steel (59.85%)
Chinese name
Simplified Chinese 太原钢铁（集团）有限公司
Traditional Chinese 太原鋼鐵（集團）有限公司
Taigang Group
Simplified Chinese 太钢集团
Traditional Chinese 太鋼集團
Literal meaning Taisteel Group
Website 　www.tisco.com.cn
Footnotes / references
in a consolidated basis; equity and profit excluded minority interests; in Chinese Accounting Standards[1]

Taiyuan Iron and Steel (Group) Co., Ltd. formerly Taiyuan Iron & Steel Corporation (TISCO), also known as Taigang Group is a Chinese steel maker based in Taiyuan, Shanxi Province. The company was the parent of Linfen Iron and Steel and Shanxi Taigang Stainless Steel Co., Ltd. (SZSE: 000825). However, the unlisted portion of the group, consisted of real estate company and a hospital.

Taigang Stainless Steel was ranked the 1681st in 2016 Forbes Global 2000 list.[2] As of 4 July 2017, it was a constituent of SZSE 200 Index (mid cap index).[3]

According to World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 38th in 2015 the world ranking by production volume, for 10.256 million metric tons.[4]

History

The predecessor of Taiyuan steel plant was founded in 1934, in the Warlord Era by Yan Xishan. In 1949 it was under control of the Communist Party of China during Chinese Civil War. In 1996 it was incorporated as Taiyuan Iron and Steel (Group) Co., Ltd.. In 1998, a subsidiary was incorporated and listed on Shenzhen Stock Exchange ("Shanxi Taigang Stainless Steel Co., Ltd."). Stainless steel CN¥0.1 coins were made by Taigang Stainless Steel. In 2006, Taigang Group injected most steel manufacturing assets to the publicly traded subsidiaries,[5] except Linfen Iron and Steel, in Linfen, Shanxi and several subsidiaries.

Equity investments

Taiyuan Iron and Steel Group, as at 31 December 2015, also owned a minority stake in Guangshen Railway (SSE: 601333, for 0.43% stake),[6] Jinduicheng Molybdenum (SSE: 601958 for 0.54% stake),[7] China Everbright Bank (SSE: 601818) and Shanxi Securities (SZSE: 002500, for 12.58% stake).[8] Taiyuan Iron and Steel Group also owned 16.67% stake in China Niobium Investment Holdings, which the holding owned 15% stake of Companhia Brasileira de Metalurgia e Mineração. Taiyuan Iron and Steel Group also owned 40% stake in CNMC Nickel, which owned a nickel mine in Myanmar.

Subsidiaries and joint ventures

Taigang Stainless Steel had two joint ventures "Tianjin TISCO & TPCO Stainless Steel" with Tianjin Pipe Corporation (TPCO) in a 65–35 ratio (TPCO held the stake via a non wholly owned subsidiary), as well as "Tianjin TPCO & TISCO Welding Pipe" in a 50–50 ratio.

References

  1. ↑ "2015 Annual Report" (in Chinese). Taiyuan Iron and Steel Group. 30 April 2016. Retrieved 27 November 2016 – via Shanghai Clearing House.
  2. ↑ https://www.forbes.com/companies/shanxi-taigang-stainless/
  3. ↑ 指数样本 [Constituents] (Microsoft Excel) (in Chinese). Shenzhen Securities Information. 4 July 2017. Archived from the original on 1 November 2017. Retrieved 1 November 2017.
  4. ↑ "Archived copy". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
  5. ↑ "历史沿革" [History] (in Chinese). Taiyuan Iron and Steel Group. Retrieved 27 November 2016.
  6. ↑ "2015 Annual Report" (PDF). Guangshen Railway. Hong Kong Stock Exchange. 29 March 2016. Retrieved 29 November 2016.
  7. ↑ "2015 Annual Report" (PDF). Jinduicheng Molybdenum (in Chinese). Shanghai Stock Exchange. 12 April 2016. Retrieved 29 November 2016.
  8. ↑ "2015 Annual Report" (PDF). Shanxi Securities (in Chinese). Shenzhen Stock Exchange. 22 April 2016. Retrieved 29 November 2016.
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