Metals News
Taiyuan Iron and Steel Co., Ltd. is on the list of Fortune 500 in China.
Jul 17,2019
Source:China Iron and Steel News Network
The content below was translated by Tencent automatically for reference.

SMM News: July 10, "Fortune" Chinese website released the 2018 list of China's top 500 enterprises. Taiyuan Iron and Steel Co., Ltd., with a business income of 67.7898 billion yuan, is once again on the list of the top 500 enterprises in China. This year, a total of 22 iron and steel enterprises on the list of China's top 500 enterprises, Taiyuan Iron and Steel Co., Ltd. ranked sixth on the list of iron and steel enterprises, Shanxi enterprises in the first place.

As a global leader in the stainless steel industry, Taiyuan Iron and Steel Co., Ltd. has the ability to produce 12 million tons of steel (of which 4.5 million tons of stainless steel). It has formed a high-efficiency energy-saving longevity product cluster dominated by stainless steel, cold-rolled silicon steel and high strength and toughness series steel. More than 20 varieties of domestic market share the first, more than 30 varieties to fill the domestic gap and replace imports. Successful development of high-grade silicon steel for driving motor of new energy vehicles, breaking foreign monopoly; ultra-pure Ferritic stainless steel is used in the world's largest stainless steel metal roof project; duplex stainless steel is used in the manufacture of the core components of the world's largest tonnage chemical tanker; high-grade pipeline steel is first used in the Sino-Russian eastern natural gas pipeline project, and the competitiveness of the company is further enhanced.

The list of China's top 500 enterprises, compiled by Fortune magazine (Chinese version) in cooperation with China International Capital Corporation Wealth Management Department, covers all Chinese companies listed at home and abroad. Based on the information officially disclosed by listed companies on various stock exchanges, it is an authoritative list to measure the ability of enterprises to generate revenue.

The total operating income of China's 500 listed companies reached 39.65 trillion yuan this year, up 18.22 percent from last year, double that of last year, and net profit reached 3.48 trillion yuan, up 24.24 percent. The annual revenue threshold for companies on the list this year was 13.864 billion yuan, up 22.44 per cent after breaking through $10bn last year.

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