Hesteel Group Explained

Hesteel Group
河北钢铁集团有限公司
Type:State-owned enterprise
Hq Location:385 Sports South Avenue
Hq Location City:Shijiazhuang, Hebei
Hq Location Country:China
Area Served:China, Serbia
Industry:Iron and Steel
Revenue Year:2015
Income Year:2015
Net Income Year:2015
Assets Year:2015
Equity Year:2015
Parent:State-owned Assets Supervision and Administration Commission of the Government of Hebei Province
Subsid:see list
Homepage:hbisco.com
Footnotes:in a consolidated basis[1]

Hesteel Group Company Limited is a Chinese iron and steel manufacturing conglomerate, also known as Hesteel Group or its pinyin shortname Hegang. The company was also known as Hebei Iron and Steel Group Co., Ltd. or HBIS until 2016 .[2]

Hesteel Group is the second-largest steel producer in the world measured by crude steel output (after European-Indian conglomerate ArcelorMittal) in 2015, according to the World Steel Association (Chinese companies data was provided by China Iron and Steel Association).[3] After the announcement of the merger of Baosteel Group and Wuhan Iron and Steel Corporation (WISCO) in September 2016, Baowu Steel Group's pro forma production volume in 2015 would be the second in the world, exceeding Hesteel Group. However, Hesteel Group, Baosteel Group and WISCO all announced the cut in production capacity, in response to the market demand and government policy, thus the final ranking could not be predicted.

By net assets, Baosteel Group's subsidiary was already exceeding the net assets of Hesteel Group as of 31 December 2015.

Hesteel Group had a second-tier subsidiary listed at the Shenzhen Stock Exchange, Hesteel Company, which is controlled by the direct subsidiaries Hansteel Group and Tangsteel Group of Hesteel Group.

History

Hebei Iron and Steel Group Co., Ltd. was established on 30 June 2008 by the merger of Tangshan Iron and Steel Group and Handan Iron and Steel Group of Hebei Province.[4]

The company had an indirectly listed subsidiary, Hesteel Company, which was known as Hebei Iron and Steel Company until June 2016.[5]

See history of Hesteel Group (Hebei Iron and Steel) since 1918.

Subsidiaries

External links

Notes and References

  1. Web site: 2015 Annual Report. 29 April 2016. 4 October 2016. Hesteel Group. 6 October 2016. https://web.archive.org/web/20161006005900/http://disclosure.szse.cn/finalpage/2016-04-29/1202267032.PDF. dead.
  2. Web site: http://disclosure.szse.cn/finalpage/2016-01-26/1201940413.PDF. zh:关于间接控股股东更名的公告. Announcement of name change of the indirect holding company. 26 January 2016. Hebei Iron and Steel Company. zh. 2016-10-04. 2016-10-06. https://web.archive.org/web/20161006005804/http://disclosure.szse.cn/finalpage/2016-01-26/1201940413.PDF. dead.
  3. Web site: World Steel Association - Top steel-producing companies . 2016-07-26 . dead . https://web.archive.org/web/20160719102615/http://www.worldsteel.org/statistics/top-producers.html . 2016-07-19 .
  4. Web site: http://disclosure.szse.cn/finalpage/2008-07-01/40892823.PDF. zh:关于河北钢铁集团有限公司成立的进展公告. Establishment of Hebei Iron and Steel Group. 1 July 2008. 4 October 2016. Tangshan Iron and Steel Company. zh.
  5. Web site: http://disclosure.szse.cn/finalpage/2016-06-13/1202362922.PDF. zh:关于变更公司名称的公告. Announmcnet of change in company name. 13 June 2016. 4 October 2016. Hesteel Company. zh.
  6. Web site: Hesteel Group acquires Palabora Mining Company's Holding Company . 11 May 2017 . Mining Weekly . Megan Van Wyngaardt .

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