Top 10 most profitable steel companies
(China.org.cn)
Updated: 2013-06-05 09:59
Counter: 61

China Economic Weeklyhas released the latest ranking of China's most profitable A-share steel companies. Baoshan Iron & Steel Co., Ltd., also known as Baosteel, is the biggest winner, with a net profit of 10.43 billion yuan (US$1.7 billion).

The Chinese steel industry was entering a long period of adjustment, based on the 2012 annual reports of China's public companies. Overcapacity had created problems for the domestic steel enterprises. It is now hard for the steel industry to achieve high growth.

In 2011, Baosteel was the only steel company on the list of the 100 most profitable A-share public companies in China. Due to its outstanding performance, the company is now 26th compared to 34th in the previous year. However, the other top 10 steel companies were not so lucky and faced decreasing profits.

Wuhan Iron & Steel Co., Ltd., Bengang Steel Plates Co., Ltd, and Xining Special Steel Co., Ltd., which were on the list in 2011, were no longer part of the top 10.

The following are China's top 10 most profitable A-share steel companies in 2012.

10# Zhejiang Jiuli Hi-tech Metals Co., Ltd.

Zhejiang Jiuli Hi-tech Metals Co., Ltd. [biz.zjol.com.cn]

Stock code: 002318.SZ

Net profit: 161 million yuan (US$26.22 million)

Time of listing: Dec. 11, 2009

Headquarters: Huzhou, Zhejiang Province

9# Daye Special Steel Co., Ltd.

Daye Special Steel Co., Ltd. [cctec.net.cn]

Stock code: 000708.SZ

Net profit: 218 million yuan (US$35.51 million)

Time of listing: March 26, 1997

Headquarters: Huangshi, Hubei Province

8# Jiangsu Changbao Steeltube Co., Ltd.

Jiangsu Changbao Steeltube Co., Ltd. [yjbys.com]

Stock code: 002478.SZ

Net profit: 230 million yuan (US$37.46 million)

Time of listing: Sept. 21, 2010

Headquarters: Changzhou, Jiangsu Province

7# Inner Mongolia Baotou Steel Union Co., Ltd.

Inner Mongolia Baotou Steel Union Co., Ltd. [baotou-epb.gov.cn:8000]

Stock code: 600010.SH

Net profit: 258 million yuan (US$42.02 million)

Time of listing: March 9, 2001

Headquarters: Baotou, Inner Mongolia Autonomous Region

6# Gansu Jiu Steel Group Hongxing Iron & Steel Co., Ltd.

Gansu Jiu Steel Group Hongxing Iron and Steel Co., Ltd. [page.lgmi.com]

Stock code: 600307.SH

Net profit: 477 million yuan (US$77.69 million)

Time of listing: Dec. 20, 2000

Headquarters: Jiayuguan, Gansu Province

5# Fangda Special Steel Technology Co., Ltd.

Fangda Special Steel Technology Co., Ltd. [hi.baidu.com]

Stock code: 600507.SH

Net profit: 537 million yuan (US$87.46 million)

Time of listing: Sept. 30, 2003

Headquarters: Nanchang, Jiangxi Province

4# Inner Mongolia Eerduosi Resources Co., Ltd.

Inner Mongolia Eerduosi Resources Co., Ltd. [paper.people.com.cn]

Stock code: 600295.SH

Net profit: 944 million yuan (US$153.76 million)

Time of listing: April, 2001

Headquarters: Eerduosi, Inner Mongolia Autonomous Region

3# Shanxi Taigang Stainless Steel Co., Ltd.

Shanxi Taigang Stainless Steel Co., Ltd. [bxg.f139.com]

Stock code: 000825.SZ

Net profit: 999 million yuan (US$162.72 million)

Time of listing: Oct. 21,1998

Headquarters: Taiyuan, Shanxi Province

2# Xinxing Ductile Iron Pipes Co., Ltd.

Xinxing Ductile Iron Pipes Co., Ltd. [image.baidu.com]

Stock code: 000778.SZ

Net profit:1.52 billion yuan (US$246.93 million)

Time of listing: June 6, 1997

Headquarters: Wu'an, Hebei Province

1# Baoshan Iron & Steel Co., Ltd.

Baoshan Iron and Steel Co., Ltd. [news.hexun.com]

Stock code: 600019.SH

Net profit:10.43 billion yuan (US$1.7 billion)

Time of listing: Dec. 12, 2000

Headquarters: Shanghai