China Baowu Iron & Steel Group Co., Ltd., which was jointly reorganized by Baosteel Group and Wuhan Iron and Steel in September 2016, is a large-scale stainless steel group with large domestic production capacity and advanced process technology and equipment, focusing on carbon steel/stainless steel/special steel series products

IN SEPTEMBER 2016, WITH THE APPROVAL OF THE STATE COUNCIL, BAOSTEEL GROUP CO., LTD. (HEREINAFTER REFERRED TO AS BAOSTEEL) AND WUHAN IRON AND STEEL (GROUP) COMPANY (HEREINAFTER REFERRED TO AS WUGANG) IMPLEMENTED A JOINT REORGANIZATION TO FORM CHINA BAOWU STEEL GROUP CORPORATION LIMITED (HEREINAFTER REFERRED TO AS CHINA BAOWU GROUP, ENGLISH NAME). China Baowu Group is a state-owned capital investment company authorized by the state, which is responsible for maintaining and increasing the value of state-owned assets to the State-owned Assets Supervision and Administration Commission of the State Council within the scope of authorization, with a registered capital of 52.79 billion yuan and headquartered in Shanghai.

Wuhan Iron and Steel Co., Ltd. is the first super-large iron and steel complex built after the founding of the People's Republic of China, and Baosteel is the first modern super-large iron and steel enterprise in China built in the early days of reform and opening up. The two groups have witnessed the rapid development of China's modern iron and steel industry from small to large and from large to excellent, accumulated multiple advantages such as resources, capabilities, capital, technology, research and development, and marketing, and made great contributions to the development of China's iron and steel industry and downstream industries. After the reorganization, China Baowu Group will become the largest steel enterprise in China and the second largest in the world, with an annual output of more than 40 million tons of high-end products. The three series of products, such as ordinary carbon steel, stainless steel and special steel, will be widely used in automobiles, home appliances, petrochemical industry, machinery manufacturing, energy transportation, metal products, aerospace, nuclear power, electronic instruments and other industries through a global marketing and service network.

With the vision of becoming a leader in the global steel industry, China Baowu Group will further deepen reform, innovation and development, accelerate strategic transformation and structural adjustment, adhere to the strategic positioning of "one body and two wings" with the steel industry as the main body, green boutique intelligent manufacturing and steel ecosystem platform services as the two wings, and focus on the main steel industry to become a world-class steel enterprise in accordance with the development principles of high-end, intelligent, green and service-oriented. While sticking to the main steel industry, China Baowu Group is committed to the symbiotic development of related diversified industries, actively trying investment, restructuring, mergers and acquisitions, exit and other capital operation means to integrate domestic and foreign resources, promoting the deep integration of the Internet and traditional manufacturing industry through the construction of a new ecosystem of service-oriented production system in the steel industry, realizing the coupling development of industrial capital and financial capital through the combination of industry and finance, maximizing the value of real estate and new urban industries through the combination of industry and city, and striving to build a state-owned capital investment company with international competitiveness. China Baowu Group will sincerely care for its employees, strive to become a model of the company for the common development of employees and enterprises, and become a sincere, friendly, creative and respected global outstanding enterprise.