Taiyuan Iron and Steel Group

Taiyuan Iron and Steel Group
Taigang Group
Formerly called
 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)
Profit 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%)
Website 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.
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

Taiyuan Iron and Steel (Group) Co., Ltd. (TISCO) 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).

Taigang Stainless Steel was ranked the 1681st in 2016 Forbes Global 2000 list.[2] It was a constituent of SZSE 200 Index (mid cap index).

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.[3]

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,[4] 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),[5] Jinduicheng Molybdenum (SSE: 601958 for 0.54% stake),[6] China Everbright Bank (SSE: 601818) and Shanxi Securities (SZSE: 002500, for 12.58% stake).[7] 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.

Financial data

in a consolidated statements (in CN¥)
Taiyuan Iron and Steel GroupTaigang Stainless Steel
Year Revenue Profit Assets Equity stake % Revenue Profit Profit to group Assets Equity Equity to group
2015 Decrease 90.835 billion Decrease (3.357 billion) Decrease 125.827 billion Decrease 28.875 billion 63.49% Decrease 67.913 billion Decrease (3.711 billion) Decrease (2.356 billion) Decrease 72.448 billion Decrease 21.282 billion Decrease 13.512 billion

References

  1. ↑ "2015 Annual Report". Taiyuan Iron and Steel Group (in Chinese). Shanghai Stock Exchange. 30 April 2016. Retrieved 27 November 2016.
  2. ↑ http://www.forbes.com/companies/shanxi-taigang-stainless/
  3. ↑ https://www.worldsteel.org/statistics/top-producers.html
  4. ↑ "历史沿革" [History] (in Chinese). Taiyuan Iron and Steel Group. Retrieved 27 November 2016.
  5. ↑ "2015 Annual Report" (PDF). Guangshen Railway. Hong Kong Stock Exchange. 29 March 2016. Retrieved 29 November 2016.
  6. ↑ "2015 Annual Report" (PDF). Jinduicheng Molybdenum (in Chinese). Shanghai Stock Exchange. 12 April 2016. Retrieved 29 November 2016.
  7. ↑ "2015 Annual Report" (PDF). Shanxi Securities (in Chinese). Shenzhen Stock Exchange. 22 April 2016. Retrieved 29 November 2016.
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