Wuhan Iron and Steel Co., Ltd. (600005)

Wuhan Iron and Steel Co., Ltd. (600005)

Wuhan Iron and Steel Co., Ltd. [1] is located in the east of Wuhan City, which is the third largest steel listed company in China, controlled by Wuhan Iron and steel (Group) Co., Ltd. At present, the company has a total assets of over 30 billion yuan, and it has 12 units including sintering plant, iron making plant, first steel mill, second steel mill, third steel mill, large-scale plant, rolling mill, hot rolling plant, cold rolling plant, silicon steel plant, bar factory, quality inspection center and other 12 units, with 16995 employees.

In August 2015, Wuhan Iron and Steel Co., Ltd. ranked 17th in the list of "top 500 Chinese manufacturing enterprises in 2015" sponsored by the association of Chinese manufacturing enterprises.

WISCO has a complete steel production process of iron making, steel making and rolling with advanced level in the world. There are seven categories and more than 500 kinds of steel products. The main products are cold rolled sheet, cold rolled silicon steel, hot rolled sheet, medium and thick plate, large-scale material, high-speed wire rod, bar, etc. the total production capacity of commercial materials is 10million tons, of which 80% of them are all kinds of plates which are popular in the market. The company has more than 100 products obtained national, provincial and ministerial quality product certificates, silicon steel products have won the title of China famous brand and the most influential brand in China steel industry, heavy rail and plate are awarded the title of Hubei famous brand, 39 steel products have won the "golden cup award" in metallurgical industry, and the product physical quality reaches the international advanced level and the output ratio is 64.07%.

With the continuous expansion of the production scale of China's steel industry, the supply of refined coal in domestic smelting is becoming increasingly tight. Through the investment of pingcoal group, the company will strengthen its influence on the upstream coal resources, and restrict the production of steel production of the tight resources coal will be greatly slowed down in the future, which will play a positive role in the production of the main steel industry.

The company is a joint stock company established by Wuhan Iron and steel (Group) Co., Ltd. (hereinafter referred to as WISCO) as the sponsor according to the company law of the people's Republic of China and the special provisions of the State Council on the overseas stock raising and listing of joint stock limited companies, approved by the State Economic System Reform Commission (stgsheng [1997] No. 164). According to the reorganization plan, WISCO invested all the operating assets of its subordinate cold rolling sheet plant (including coating strip workshop) and cold rolled silicon steel sheet plant into the company, with net assets of 272384600 yuan (the evaluation value and confirmed by the State Administration of state owned assets and assets), and converted into 177048000 state-owned legal persons. On November 7, 1997, the company was officially established. As the sponsor, a joint stock company was established by the way of raising on November 7, 1997. WISCO converted all the operating assets of its subordinate cold rolling sheet plant (including coating strip workshop) and cold-rolled silicon steel sheet plant into 1770480000 state-owned legal persons. After the issuance of 320million public shares on July 5, 1999, the total share capital of the company reached 209048 million shares after the allotment of 49010000 shares to the securities investment fund. Its public shares of 32 million shares were listed on the Shanghai Stock Exchange on August 3, 1999.

Since the listing, the company has been one of the top 10 listed companies in Shanghai and Shenzhen, with outstanding main business and steady growth of profits, which has kept the position of top 50 listed companies in China and top 20 in comprehensive economic benefits.

WISCO Co., Ltd. adheres to the scientific development concept, vigorously advocates the people-oriented enterprise culture, strengthens management innovation, and has won the national quality management award, the national advanced unit of user satisfaction project, the advanced unit of factory affairs publicity of the central enterprise work committee, and the family of national model workers.

The company is planning for future development from a high starting point. With the construction projects of three silicon steel and three hot rolling rolling going into operation, WISCO will continue to consolidate the position of the chief supplier with the most complete and largest silicon steel varieties in China, and will end the passive situation that China's car plate and home appliance plate, especially the high-grade car panel, has long relied on import, greatly optimizes the product structure and further improves the core competitiveness of the company.

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