Shanghai Baosteel Group Corporation, usually known as Baosteel is a state-owned steel company which is one of the biggest steel producers in the world, based on output. Its 2000 initial public offering in Shanghai was the largest in China at the time even though it was restricted to domestic investors.
Many Chinese people want to be the next Jack Ma in China nowadays and many companies want to copy the success story of Alibaba too including the latest and unusual effort by something that doesn’t have too much to do with technology – China’s No.1 steelmaker.Monday, 23 February, 2015, 10:19pm
Shanghai-based Baoshan Iron & Steel, the mainland’s most profitable steel producer, posted a preliminary net profit of 5.82 billion yuan (HK$7.39 billion) for last year, which is flat compared to 2013.
Sales fell 0.84 per cent to 188.4 billion yuan last year from 2013, it said in a filing to Shanghai’s stock exchange on Wednesday.15 Jan 2015 - 8:05am
Aquila Resources and new strategic stakeholder Mineral Resources said yesterday that they plan to announce a deal that could thwart Chinese steel giant Baosteel Resources' US$1 billion bid for Aquila.17 Jun 2014 - 5:13am
How can Shanghai get ready to be a financial centre by 2020? We've talked about world-class infrastructure, freedom of capital flows, and of course the rule of law. But are we missing a basic requirement - people?7 Oct 2013 - 7:12am
Overcapacity on the mainland, which produces nearly half the world's steel, has reduced the profit margins of domestic steelmakers. Baosteel reported a 61 per cent drop in first-half earnings on Friday.27 Aug 2013 - 4:30am
Some mainland steelmakers are tentatively curbing output by starting plant maintenance as weak prices squeeze margins. However, the cuts look too little and too late to support steel prices, which are at their lowest level in more than nine months.8 Jun 2013 - 3:39am
Chief executive Neville Power said in a media briefing at the Boao Forum yesterday that the group was studying the feasibility of an initial public offering of FMG Iron Bridge, an iron ore project it jointly develops with Baosteel in Western Australia.8 Apr 2013 - 3:17am
Unaudited net profit at Baoshan Iron & Steel, the country's largest listed steelmaker, rose about 40 per cent last year to 10.3 billion yuan (HK$12.8 billion), helped by the sale of some assets, the firm said. But operating profit before one-off items fell 33 per cent to 6.2 billion yuan.10 Jan 2013 - 4:21am
Leading steel-maker Baosteel's share divestment in China Construction Bank last week shows large state-owned enterprises hit hard by overcapacity could need to further sell non-core assets to generate liquidity, analysts said.
Baosteel yesterday confirmed the sale, which reportedly raised HK$4 billion, saying the move was a "market operation".13 Sep 2012 - 11:44am
A shareholder sold a large chunk of China Construction Bank shares yesterday, hoping to raise up to HK$4 billion, term sheets showed, without naming the vendor.
A banker familiar with the transaction told the South China Morning Post that leading steelmaker Baosteel was behind the sale.8 Sep 2012 - 2:55am
A mainland shareholder sold a large chunk of China Construction Bank on Friday, hoping to raise up to HK$4 billion, according to term sheets seen by the South China Morning Post.
A banker familiar with the transaction told the Post the shareholder was leading steel maker Baosteel.7 Sep 2012 - 10:35pm
Thousands of residents in Zhanjiang, Guangdong, have been left jobless, homeless and unemployed as a result of the local government's plan to invest 70 billion yuan (HK$85.6 billion) to create an iron and steel production base on the city's scenic Donghai Island.7 Jun 2012 - 12:00am
Angang Steel shares dropped as much as 5 per cent yesterday on a profit warning and weaker-than-expected economic growth on the mainland.17 Apr 2012 - 12:00am
Baosteel Group, China's second-largest steel producer, has mandated Bank of China as lead manager and book-runner for a proposed yuan-denominated bond offering.
The bonds were expected to be launched, subject to market conditions, following a series of investor conference calls and meetings, a person familiar with the terms of the deal said.21 Feb 2012 - 12:00am
The largest bulk vessel ever built in a shipyard in southern China stood berthed at a Longxue Island dock in Guangzhou for a naming ceremony yesterday that marked a milestone in the mainland's bulk shipping market and renewed hope for the sector.6 Feb 2010 - 12:00am