STSS is Listed as One of Top 500 Enterprises of China in FORTUNE 2016 and Ranks the Third in Steel Enterprises

 

The list of China’s Top 500 Enterprises in 2016 was released by FORTUNE China, the worldwide authoritative magazine recently. STSS ranks No.85 in the list and No.3 in the listed steel enterprises.

 

Totally 21 steel enterprises are listed this time, among which, Baoshan Iron And Steel Co., LTD , Hebei Iron And Steel co., LTD and Shanxi Taigang Stainless Steel Co., LTD are the top three. The list reflects the new tendency of China’s economic development in the past years: the real economy and virtual economy are in totally different. The number of listed firms in secondary industry decreases while more listed firms suffer loss, and the industry is under the pressure of de-stocking and production capacity cutting.

 

Faced with the great trend of industrial transformation and upgrading, STSS sped up the development of its unique competitiveness in technology, equipment, steel grade and green development, continuously strengthened the development of high-end products, further optimized the steel grade structure, put more efforts to tap the potential and to reduce the cost, so as to ensure a stable operation. A batch of new products with high-tech and high added value were used to national key industries and major engineering projects such as railway, automobile, ships, containers, bridges, aerospace engineering, and etc. The downstream enterprises were helped in their industrial transformation and upgrading. During the first three quarters of this year, STSS seized the opportunities arisen in the supply side structural reform, optimized further the product mix, improved the product quality, cut down the production cost and increased the production efficiency. With the recovered market, STSS made up the deficits, and began to turn out a profit despite the shrunk steel output compared with last year. From January to September this year, STSS made a sum profit of 0.759 billion yuan and net profit of shareholders of 0.842 billion yuan.

 

Since 1954, the American magzine FORTUNE has started to list the top 500 enterprises of the world after rigorous evaluation. It creats great impact on China and become a criterion for the world economy. The top 500 enterprises of the FORTUNE covers all the listed enterprises in China and abroad. The list is worked out based on information disclosed to stock exchanges officially by the listed companies, aiming to reflect China’s economy in all aspects.