Baosteel Resources Co., Ltd (Baosteel Resources) is a wholly-owned subsidiary of Baosteel Group, formerly known as Baosteel Trading Co., Ltd, which was established on July 21, 2006, and is one of the six major business segments of Baosteel Group. The company pursues international cooperation***win, focuses on the global allocation of mineral resources, and is committed to providing customers with ores, coal, alloys, and non-ferrous metals, stainless steel raw materials, Baosteel is committed to providing customers with high-quality products and value-added services such as ores, coal, alloys and non-ferrous metals, stainless steel raw materials, iron and steel scrap and logistics. Baosteel resources and Australia, Brazil, India, Chile and South Africa and other countries of the well-known suppliers to establish a long-term strategic partnership of iron ore; and many large coal producers at home and abroad to establish a strategic partnership of coal, and joint ventures, cooperation and the establishment of four subsidiaries, equity participation in six coal enterprises; in the country to establish a ferronickel production base in India to participate in the establishment of the Baowei Resources Limited for ferrochrome processing; in Shanghai, Zhejiang, Jiangsu, and other provinces and cities in the world. Processing; built in Shanghai, Zhejiang, Jiangsu and other provinces and cities of scrap steel processing production base, with the Shanghai region's leading car-wrecking industry, Shanghai area, the only shipbreaking enterprise with the national qualification of dismantling scrap ships.
The varieties of iron ore and metallurgical auxiliary materials operated by Baosteel Resources are: iron ore powder, lump ore, pellet, limestone, dolomite, serpentine, olivine, etc.; the varieties of coal are: main coking coal, fertilizer coal, blown coal, power coal, lump coal and metallurgical coke, etc.; the raw materials for stainless steel mainly include: nickel, ferronickel, chromium, ferrochrome, and lateritic nickel ore, chromite, etc.; the varieties of scrap steel are: shear, baled blocks, pure scrap steel, etc. The company's products include: shears, baled blocks, pure steel scrap, etc.
Baosteel Resources also provides logistics services such as shipping agency, freight forwarding, railroad shipment, warehousing, terminal loading and unloading, and develops ocean transportation business through strategic cooperation with China Shipping Group and other enterprises. (Baosteel Development) is one of the wholly-owned subsidiaries of Baosteel Group. In order to vigorously develop the production service industry, enhance the operational efficiency and service quality of the production services and other fields, and provide strong support for the development of the main steel industry, at the end of 2007, Baosteel Development carried out business integration and institutional reorganization of the various businesses of the former Baosteel Group Enterprise Development Corporation to set up the Baosteel Development.
Baosteel Group, in its new round of development strategy, has taken the production service industry as an important business segment in its overall plan. In the composition of Baosteel Group's production service industry, Baosteel Development accounts for about 40% of the net assets, 75% of the sales revenue and 60% of the profit, which is an important platform for the development of Baosteel Group's production service industry. After integration and reorganization, Baosteel Development divided its business into three core business divisions (Resource Recycling Division, Plant Operations Division and Plant Property Division) and one supporting business segment (Shanghai Zhongyun Investment Development Co., Ltd.).
The Resource Recycling Division is mainly engaged in the harmless disposal of waste generated in the process of metallurgical production and the comprehensive utilization of resources and other services. Its main products include: slag micro powder, water slag, fly ash, steel slag, etc. in the category of new building materials; iron oxide red, iron oxide phosphorus, magnetic core, etc. in the category of magnetic materials; iron dephosphorizing agent, metallurgical pellets, steel insulator, etc. in the category of metallurgical raw and auxiliary materials; as well as recycled refractory, waste oil recycling, iron oxide pigment, etc. in the category of waste materials.
The Plant Operations Division mainly provides services such as production outsourcing, maintenance and repair of equipment and facilities, and packaging of metallurgical products, etc. Over the years, it has accumulated rich experience in specialized operations and become an important auxiliary support for Baosteel's iron and steel main business, as well as possessing the ability to provide integrated production synergistic services for large and medium-sized manufacturing enterprises and industrial parks.
The Plant Property Division has fully passed the ISO9001/ISO14001/ISO18001 certification, and mainly provides catering services, property management services, commuting services, greening management services, road cleaning services, industrial environmental protection services, healthcare services, medical checkup services and laundry services.
Supporting business segment (Shanghai Zhongyun Investment Development Co., Ltd.), as an important supporting business segment in addition to the three core business divisions of Baosteel Development, positions itself as three major centers: fund settlement center, fund value-added operation center and accounting center, and centrally undertakes the outsourcing of accounting and settlement of funds of various units within the scope of the company, and utilizes the idle funds after the centralization of the company to carry out value-added operation and realize the scale of funds. It also carries out value-added operation and realizes the scale efficiency of funds.
Baosteel development is carrying out business integration, deep adjustment and restructuring of existing business, focusing on core industrial fields, focusing on core competitiveness enhancement, and realizing the development goal of specialization, marketization and socialization through the ****same development as that of the main business of iron and steel, striving to create a modern production and service platform, and to grow up to be the most competitive industrial service provider in China. Shanghai Baosteel Engineering Technology Co., Ltd (Baosteel Engineering for short) is a wholly-owned subsidiary of Baosteel Group Corporation, and is the main enterprise of Baosteel for the development of engineering technology service industry. It is committed to the research, application and promotion of advanced iron and steel process technology and metallurgical equipment output, and its service field extends from iron and steel industry to non-ferrous, light industry, chemical industry, machinery, transportation, energy, environmental protection and many other industries. It has more than ten subsidiaries with first-class metallurgical equipment design and manufacturing capabilities, and is now an engineering and technology enterprise in the national metallurgical industry with the advantages of complete engineering design, equipment design and manufacturing, and supply of complete sets of equipment. Baosteel engineering set "scientific research and development, design and manufacture, complete sets of supply, engineering turnkey" in one, has completed the Shanghai Iron and Steel stainless steel, Ningbo Baoxin stainless steel cold rolled, Pugang special steel, five steel stainless steel long profiles and other major engineering design, by the Baosteel engineering survey, design of stainless steel and carbon steel hot rolled coil of the Baosteel Group, the company's stainless steel and carbon steel hot rolled coil. The technical transformation project of Baosteel Group's stainless steel and carbon steel hot rolled coil won the "Golden Quality Award of National Quality Engineering in 2007". Baosteel Engineering has core technologies in blast furnace coal injection and waste heat recovery, top and bottom composite blowing, secondary refining, steel slag treatment, dust removal in iron and steel mills, wastewater treatment in cold rolling mills, continuous treatment of strip steel, oil well pipe processing line, light steel structure, etc., which have enjoyed a high reputation in the industry.
Baosteel Engineering is moving towards an international first-class engineering company providing comprehensive solutions for modern iron and steel enterprises, and fully supporting the new round of scale expansion of Baosteel. 07 has undertaken the overall design of Pugang relocation project Luojing project, the COREX furnace coal injection system project technology assembly and equipment sets, the relocation of the Xinjiang eight steel plate project, lime kiln project, etc., which provides strong support for the new round of Baosteel's development. provide strong support for Baosteel's new round of development.
At the same time, Baosteel Engineering actively explores the market outside the group, establishes strategic cooperative relationship with Shaogang, Anshan Iron & Steel, Baosteel, Handan Iron & Steel and other domestic large-scale iron and steel enterprises, and successively wins the bidding of Shaogang RH, Baosteel RH, Anshan Iron & Steel RH, as well as the turnkey projects of Hunan Lambertal Furnace, etc. And achieves a new breakthrough in overseas business. It has also achieved new breakthroughs in overseas business, and has signed contracts for 300 tons RH and LF refining device of Korea Hyundai, and slag treatment of India JSW, etc., and has successfully entered into overseas market. (hereinafter referred to as Baosteel Chemical) is a resource utilizing industry developed in tandem with Baosteel's iron and steel main business, and is an important part of Baosteel's strategic development. Baosteel Chemical takes the production, sales and scientific research of metallurgical chemical products as its main business, and is the core enterprise of Baosteel's coal chemical industry, which explores the field of downstream coal chemicals of high technology content and high added value while supporting the development of the main industry of Baosteel's iron and steel.
Baosteel Chemical now owns three production bases, namely Shanghai Baoshan, Nanjing Meishan and Suzhou Baohua Carbon Black Co. In terms of enterprise scale, economic strength, technical and economic indicators, product quality, etc., after more than 20 years of construction and development, Baosteel Chemical has become the largest and most competitive coal chemical enterprise in China.
As one of the diversified segments of Baosteel Group, under the new development situation, Baosteel Chemical, based on the business philosophy of "safety, environmental protection, quality, cost, efficiency and development", comprehensive utilization of coking by-products, following the expansion of the scale of steel business and the extension of the layout, and making full use of the social resources, is taking the path of "increasing the scale of products, increasing the quality of products, and improving the quality of products". The company will take the road of "increasing product scale, strengthening chemical products, and seeking industrial upgrading" to realize the synchronous growth of scale and benefit, and move forward to the goal of building a world-class coal chemical enterprise! The original value of fixed assets of the company is 6.8 billion, total assets of 4.8 billion, with 2.8 billion cubic meters of coke oven gas, 750,000 tons of tar, 215,000 tons of crude benzene processing capacity, tar processing capacity of the international rankings of the fifth, ranked first in the country, with the development of a world-class coal chemical industry enterprises with the advantages of scale.
The main products of Baosteel Chemical are refined coke oven gas, benzene, naphthalene, phenol, quinoline, oil, gumarone, ammonium sulfate, carbazole, anthraquinone, asphalt coke, carbon black series products and more than 50 kinds of products, which are widely used in the fields of construction, medicine, pesticide, plastics, tires, dyes and so on. Huabao Trust Co., Ltd (Huabao Trust) was established in 1998, is the main enterprise of Baosteel to develop financial industry, with a registered capital of RMB 1 billion (including USD 15 million), and its holding Huabao Industrial Fund Management Co.
2007 was the first year of the implementation of the six-year development strategic plan of Huabao Trust. With the basic strategy of specialization and differentiation, the company focused on asset management and trust services as its two main businesses, strengthened the capacity building, branding and channel construction, and achieved large-scale development in the businesses of asset management, asset securitization, structured securities investment and private equity fund custodianship, corporate annuity and employee benefit plan. In 2007, the consolidated operating income of Huabao Trust exceeded 2.192 billion yuan, and the consolidated profit realized was 1.518 billion yuan, an increase of 301% compared with 378 million yuan in 2006, and the consolidated assets under management amounted to 125 billion yuan, which is a new record high in the operating performance of Huabao Trust since the establishment of the company.
In the asset management business, the same type of equity accounts managed by Huabao Trust ranked among the top 20 among all 245 biased equity funds, and became the investment advisor of the first FOF product of ICBC and the capital preservation strategy product of Industrial Bank, which embarked on the mainstream stage of asset management.
In terms of channel construction, Huabao Trust has strengthened its cooperation with seven major domestic commercial banks and foreign banks, and has successively issued various kinds of financial products such as FOF, IPO, capital preservation strategy, etc. Among them, "Enhanced Fund Preferred" and "Delibao Sky Blue IPO Among them, "Enhanced Fund Preferred" and "Delibao Sky Blue IPO" were honored as the first China's top ten best bank financial products in 2007.
In the asset securitization business, Huabao Trust acted as the trustee for the projects of Pudong Development Bank and ICBC, and the issuance scale exceeded 8.4 billion, accounting for 47% of the share of asset securitization in the domestic market in that year.
In terms of corporate annuity business, eight Fortune 500 companies and a number of well-known domestic enterprises have become clients of Huabao Trust's "Write Your Life" Pooled Benefit Plan and corporate annuity business, and Fujian Province has transferred the corporate annuities of more than 100 enterprises in three cities to Huabao Trust for management.
Huabao Trust's business performance and standardized management were widely recognized, and in April 2007, it was approved by China Banking Regulatory Commission (CBRC) and became the first trust company to pass the "re-registration". In the selection of excellent trust companies organized by Shanghai Securities News and Securities Times in Shanghai and Shenzhen, the company was awarded the titles of "China's Best Trust Company" and "Most Excellent Trust Company", and all the projects selected by the company were shortlisted and won the "Best Securities Trust Plan". The Company's projects were all shortlisted and won the "Best Securities Trust Program" and "Best Public Welfare Trust Program", as well as the awards of "Most Respectable Trust Industry Leader" and "Best Trust Manager".
The company was awarded the "Most Respected Trust Leader" and "Best Trust Manager".
Huabao Xingye Fund, founded in February 2003, is the second officially opened Sino-foreign joint venture fund management company in China formed by Huabao Trust and Societe Generale Asset Management Limited, with a registered capital of RMB 150 million, of which Huabao Trust holds 51% and Societe Generale Asset Management Limited 49%. 2007, Huabao Xingye Fund was awarded the "Top 10 Diamond Fund" in the In 2007, Huabao Societe Generale Fund was selected as one of the "Top 10 Diamond Funds" in the "Top 10 Diamond Funds" competition (the second edition), and three funds, including Baokang Flexible Allocation, Income Growth and Advanced Growth, were selected as Diamond Funds, making Huabao Societe Generale Fund the fund company that won the most awards for Diamond Funds at the same time. In the same year, the company obtained QDII qualification and designed new QDII products.
Huabao Securities opened on March 8, 2002, with registered capital of RMB 500 million in Shanghai. It has Shanghai Sales Department, Beijing Sales Department, Hangzhou Sales Department, Zhoushan Sales Department, Fuzhou Sales Department and Shenzhen Sales Department. Scope of business: agent trading of securities, agent repayment of principal and interest, dividend distribution, securities custody, forensics, agent registration and account opening. 2007, Huabao Securities to a smooth transition, standardized development, consolidate the foundation, adjusting the layout for the policy, in the grasp of the basic management work at the same time, to seize the market opportunities, remove the hat of the risk class of brokerage firms, to properly solve the historical legacy of the issue of the preparation for the establishment of research institutes, to complete the third-party depository of customer assets, account cleanup. The third-party depository of assets and account cleanup.
Baosteel Group Finance Limited Liability Company (the Finance Company) is a national non-bank financial institution approved by the People's Bank of China, mainly for the group members to provide various financial services including centralized cash management, loans, discounting, fund settlement, entrusted wealth management. On November 12, 2012, the unveiling ceremony and signing ceremony of the Joint Center for Scanning Electron Microscope Beam Application and Analysis Technology between Zeiss (Shanghai) International Trading Co.
Zhang Pijun, Assistant General Manager of Baosteel Group, President of Central Research Institute, Mr. Maximilian Foerst, President and Executive Director of ZEISS (Shanghai) International Trading Co., Ltd, Mr. Zhang Yuzhan, Vice President of Microscope Department, and Mr. Pi Xiaoyu, General Manager of OPTO NanoTech, the distributor of ZEISS ElectroMicroscope in China, were present at the opening ceremony.
***The establishment of the "Joint Center for Scanning Electron Microscope Beam Application and Analysis Technology" is an important initiative for Baosteel to develop materials research globally. In the future, the joint center will specialize in microstructure analysis of iron and steel materials, failure analysis, quality control, new product development and other advanced research, as well as cooperation with ZEISS on research topics, research and development of high-tech steel grades.
In this cooperation project, Zeiss electron microscope China designated strategic partner - OPTO Nano technology Co. As the main window for the promotion of ZEISS electron microscope beam application technology in China, OPTOTECH led a team of top experts to provide three tungsten filament scanning electron microscopes, one high-end field emission electron microscope and a number of comprehensive and effective testing solutions for Baosteel's testing laboratory in 2011. OPTOTECH's high-quality service and solid technical strength have laid a solid foundation for Baosteel and ZEISS to build a joint technology center. The foundation of the joint technology center is laid.
The establishment of the joint technology center will integrate the advantages of the two companies, expand the progress of the two sides in the field of research and technology, and establish a new platform for the cooperation between the two sides in the field of scanning electron microscope beam application analysis technology. In the future, ZEISS will carry out comprehensive cooperation with Baosteel Group Central Research Institute in the field of scanning electron microscope beam applied analysis technology, and maximize the role of ZEISS scanning electron microscope technology in Baosteel's product research and development.
After the signing ceremony, the guests attending the inauguration ceremony visited the Technology Joint Center and took a group photo. On October 17th, 2005, Baosteel Group Corporation has been changed into a wholly state-owned company, and in accordance with the relevant provisions of the Company Law, it has been changed and registered by the industrial and commercial administration authorities as Baosteel Group Corporation.
Liu Dongsheng, director of the Enterprise Reform Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, explained the newly added word "limited": this indicates that Baosteel has changed from a wholly state-owned enterprise to a wholly state-owned company, and that it has changed from being regulated by the Enterprise Law to being regulated by the Company Law. Baosteel is the first centralized enterprise to establish a board of directors of a wholly state-owned company with more than half outside directors.
Emphasizing checks and balances for effective decision-making
Xie Qihua called the "pilot work to improve the board of directors" an opportunity for Baosteel's development. She said Baosteel will further standardize the powers and responsibilities of funders, the board of directors, the supervisory board and the managerial layer, and form a governance mechanism in which the authority, decision-making body, supervisory body and business managers are responsible for their respective roles and responsibilities, and operate in a coordinated manner with effective checks and balances.
The vast majority of parent companies of central enterprises are still state-owned enterprises registered under the Enterprise Law, and basically have not established a standardized board of directors. Baosteel's first step out of the pilot program is significant.
Liu Dongsheng said that as long as there is a good board of directors, which emphasizes checks and balances and effective decision-making, the wholly state-owned company will surely promote the process of various reforms such as the shareholding system, and also better represent the interests of its shareholders, improve the mechanism of the central enterprises' power to carry out restructuring and regulate the exercise of the shareholders' rights of the central enterprises over the listed companies they hold.
In the 17th Baosteel Group Co., Ltd. board of directors pilot work conference, the State Council State-owned Assets Supervision and Administration Commission director Li Rongrong said, Baosteel board of directors to effectively fulfill its obligations and responsibilities: First, the contributor is responsible for the interests of the contributor on behalf of the pursuit of return on investment; second, in accordance with the law, to safeguard the legitimate rights and interests of the enterprise workers, creditors, users, suppliers and other stakeholders, and to assume due social responsibility; The third is to provide SASAC with necessary and truthful information in a timely manner to ensure the transparency of the operation of Baosteel and the Board of Directors.
Positioning of SASAC
Li Rongrong categorized the powers of the board of directors of the wholly state-owned company into two major areas: first, major decision-making and strategic monitoring; and second, management of the managerial layer.
With more than half of Baosteel's outside directors on the board and a standardized board already in place, Li Rongrong announced that the SASAC would no longer be responsible for this assessment.
As remuneration is linked to performance appraisal, which determines the remuneration of managers. The selection and hiring of the managers in question will also be the responsibility of the Baosteel board in the future. Li Rongrong said that in order for the board of directors to give full play to its role, the SASAC will delegate some of the funders' powers to the boards of directors of regulated wholly state-owned companies to exercise.
Related sources said that the board of directors of wholly state-owned enterprises in the past and the managerial staff of the high degree of overlap, decision-making power and implementation of the power is difficult to separate, the board of directors of the management of the managerial layer of the management of the last became "their own selection, assessment, rewards and punishments for their own". In the case of the enterprise board of directors is not sound, many things the state-owned Assets Supervision and Administration Commission "have to overstep the management". Wholly state-owned companies to improve the board of directors of the pilot substantive start, as long as the board of directors in place, the State-owned Assets Supervision Commission will be able to locate the establishment of a sound regulatory system of state-owned assets is of great significance.
"Advantageous enterprises"
Li Rongrong said the Fifth Plenary Session of the 16th CPC Central Committee put forward China's "Eleventh Five-Year Plan" period of national economic and social development, one of the goals is to form a number of "with independent intellectual property rights and well-known enterprises". One of the goals is to form a group of "dominant enterprises with independent intellectual property rights and famous brands and strong international competitiveness".
He said Baosteel should make "its due contribution" to the country's goal. As a measure to deepen the reform of state-owned enterprises, Baosteel's pilot board of directors has a strong demonstration and driving role. Baosteel should take the lead in establishing a more complete modern enterprise system.
Xie Qihua said, Baosteel construction for more than 20 years, has basically built China's highest degree of modernization, the most advanced technology, the largest steel boutique base, become China's strong innovation ability of the steel industry, new technology, new materials research and development base, among the world's top 500 and the ranks of the world's advanced steel enterprises. During the "Eleventh Five-Year Plan" period, Baosteel will enter a new strategic development period, with the goal of entering the world's top 3 steel industry in terms of comprehensive competitiveness of the main steel industry. "Improve the operation mechanism of the board of directors, so that the institutional form of the enterprise and the system's inherent requirements of coordination, will be to ensure the sustainable development of the basic requirements of the enterprise".