Baosight Software Explained

Shanghai Baosight Software Co.,Ltd.
Trading Name:Baosight
Native Name:上海宝信软件股份有限公司
Former Name:Shanghai Steel Tube Co., Ltd.
Type:Public subsidiary
Location:Shanghai, China
Key People:Xia Xuesong (Chairman)
Wang Jianhu (President)
Revenue: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Num Employees:5,714 (2023)
Industry:Information technology
Parent:Baoshan Iron & Steel Co., Ltd.
Footnotes:[1]

Baosight Software (Baosight;) is a Chinese software company that develops automation and software tools for various industries. It is a subsidiary of Baoshan Iron & Steel Co., Ltd.

Background

The origins of the company can be traced to the automation department of Baowu. It developed a very thorough understanding of steelmaking from its years of experience which helped the company become orientated towards on-site industrial control, manufacturing process management and business management.[2]

On 25 September 1993, the department was restructured into a separate joint-stock company known as Shanghai Steel Tube. On 11 March 1994, it was listed on the Shanghai Stock Exchange.[1]

In 2000 Baowu acquired a controlling stake of Shanghai Steel Tube. At that time Shanghai Steel Tube was on the brink of delisting from the exchange due to two consecutive years of losses, where "ST" prefix was added to its stock name.[3] [4]

In March 2001,Shanghai Steel Tube completed an asset swap with Shanghai Baosteel Information Industry to turn around its loss-making operation. The company also renamed to Shanghai Baosight Software. On 14 May 2001, the company was suspended from trading after three consecutive years of losses.

In May 2002, Baosight resumed trading after the business reported a net profit for the period April to December 2001. The company had never lost money when it came to the software business and was only losing money due to the steel tube manufacturing business. By performing an asset swap, the company was able to change from a steel manufacturer to an information technology company that was more profitable. At that time media criticized the company was heavily rely on intra-group (within Baosteel Group) business activities as revenue. The company had signed agreements with Hewlett-Packard and Merlin Gerin to diversify its business.

In December 2004, Baosight was acquired by Baoshan Iron & Steel Co., Ltd.[5]

In December 2019, Baowu launched its Industrial internet of things platform which was the first in China's manufacturing industry. The platform was developed by Baosight.[6]

In July 2021, Baosight shares reached an all-time high at the point in time after it unveiled China's first home-developed programmable logic controller for large industrial control systems. This was speculated to break the monopoly of foreign suppliers. The main technical indicators were verified by use in the metallurgical industry.[7]

See also

Notes and References

  1. Web site: 2023 Annual Report . Sohu.
  2. Web site: 2 February 2024 . 从理解钢铁到赋能钢铁——看宝信软件如何以数字化技术写好"四化"答卷—中国钢铁新闻网 . 15 June 2024 . www.csteelnews.com . 15 June 2024 . https://web.archive.org/web/20240615133746/http://www.csteelnews.com/xwzx/jrrd/202402/t20240201_84588.html . live .
  3. Web site: 23 November 2000 . ST钢管1.5亿国家股划归宝钢集团_上市公司_财经纵横_新浪网 . 15 June 2024 . finance.sina.com.cn . 16 April 2005 . https://web.archive.org/web/20050416055536/http://finance.sina.com.cn/2000-11-23/24244.html . live .
  4. Web site: 14 May 2002 . PT宝信22日恢复上市. 国际金融报 . 15 June 2024 . https://web.archive.org/web/20171021052509/http://business.sohu.com/30/06/article200850630.shtml . 21 October 2017 .
  5. Web site: 24 December 2004 . 宝钢股份拟收购宝信软件 整体上市迈出重要一步_上市公司_财经纵横_新浪网 . 15 June 2024 . finance.sina.com.cn . 15 June 2024 . https://web.archive.org/web/20240615143226/https://finance.sina.com.cn/stock/s/20041224/03101247374.shtml . live .
  6. Web site: Wang . Ying . 25 December 2020 . After record steel output, Baowu chases tech, profitability and scale . 15 June 2024 . www.chinadaily.com.cn . 15 June 2024 . https://web.archive.org/web/20240615142244/https://www.chinadaily.com.cn/a/202012/25/WS5fe544c9a31024ad0ba9e7b2.html . live .
  7. Web site: Tang . Shihua . 27 July 2021 . Baosight Software Hits Record High After Releasing First China-Made Programmable Logic Controller . 15 June 2024 . www.yicaiglobal.com . en . 15 June 2024 . https://web.archive.org/web/20240615141916/https://www.yicaiglobal.com/news/shanghai-baosight-software-hits-record-high-on-release-of-first-china-made-programmable-logic-controller . live .