China Baowu Steel Group Corporation Limited (hereinafter referred to as “China Baowu”), established through the consolidation and restructuring of the former Baosteel Group Corporation Limited and Wuhan Iron & Steel (Group) Corporation, was officially established on December 1, 2016. On September 19, 2019, China Baowu completed a consolidation and restructuring with Ma Steel. As a pilot enterprise for state-owned capital investment companies, China Baowu has a registered capital of RMB 52.79 billion and total assets exceeding RMB 860 billion. In 2019, the company maintained its industry leadership position with steel production reaching 95.46 million tons, generating gross revenue of RMB 552.2 billion and total profits of RMB 34.53 billion. With operational scale and profitability ranking first globally, China Baowu secured the 111th position on the Fortune Global 500 list.
Shanghai Metallurgy Equipment Group has been honored to serve as an approved supplier to Baosteel since 2019. SME’s frequency converters have maintained stable operation for over one year at the water treatment plant of Baowu Group’s Energy Center, earning highest commendations. This successful collaboration is expected to lead to additional valuable partnership opportunities.
