Not to be confused with with Wuhan Iron and Steel Corporation, ex-parent company of WGGF (now sister company).
Wuhan Iron and Steel Company Limited
Company type
subsidiary
Traded as
SSE: 600005 (former code)
Industry
Iron and steel
Founded
1955 (predecessor)
1997 (incorporation)
Headquarters
Wuhan
,
China
Area served
China
Revenue
CN¥58.338 billion (2015)
Operating income
(CN¥7.935 billion) (2015)
Net income
(CN¥7.515 billion) (2015)
Total assets
CN¥94.456 billion (2015)
Total equity
CN¥28.291 billion (2015)
Owner
Baoshan Iron & Steel (100%)
Parent
Baoshan Iron & Steel
(direct)
Baowu Steel Group
(intermediate)
SASAC
(intermediate)
State Council
(ultimate)
Website
wggf.wisco.com.cn
Footnotes / references in consolidated financial statement[1]
Wuhan Iron and Steel Company Limited
Simplified Chinese
武汉钢铁有限公司
Traditional Chinese
武漢鋼鐵有限公司
Hanyu Pinyin
Wǔhàn gāngtiě yǒuxiàn gōngsī
Transcriptions
Standard Mandarin
Hanyu Pinyin
Wǔhàn gāngtiě yǒuxiàn gōngsī
Alternative Chinese name
Simplified Chinese
武钢有限
Traditional Chinese
武鋼有限
Hanyu Pinyin
Wǔgāng yǒuxiàn
Literal meaning
Wu[han] Steel Limited
Transcriptions
Standard Mandarin
Hanyu Pinyin
Wǔgāng yǒuxiàn
Second alternative Chinese name
Simplified Chinese
武钢股份
Hanyu Pinyin
Wǔgāng gǔfèn
Transcriptions
Standard Mandarin
Hanyu Pinyin
Wǔgāng gǔfèn
Wuhan Iron and Steel Company Limited known as WISCO (and formerly WGGF, abb. of pinyin: Wǔgāng gǔfèn), is a subsidiary of listed steel maker Baoshan Iron and Steel; Wuhan Iron and Steel Co., Ltd. was a subsidiary of state-owned Wuhan Iron and Steel Corporation until 2016. The main business was the steel plant in Qingshan District, Wuhan, while the parent company had transformed from steel making company to holding company and M&A vehicle.
On 21–22 September 2016, a merger between Baosteel Group and Wuhan Iron and Steel Corporation was announced. Wuhan Iron and Steel Company Limited would be takeover by the listed counterpart of Baosteel Group in an all-share deal,[2] while all the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group, as both corporations were supervised by the same entity State-owned Assets Supervision and Administration Commission of the State Council.
On 7 July 2016, after a heavy net loss in 2015, Wuhan Iron and Steel Corporation also announced the group would reduce their production capacity by 4.42 million metric tons, which Wuhan Iron and Steel Co Ltd would be cut 1.40 million metric tons, or about 31.7% of the group total.[3]
^2015年年度报告 [2015 Annual Report] (PDF). Wuhan Iron and Steel Co., Ltd. (in Chinese). Shanghai Stock Exchange. 26 April 2016. Retrieved 21 April 2017.
^"China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Retrieved 3 October 2016.
^"武汉钢铁(集团)公司关于化解过剩产能实施脱困发展的公告" (PDF). Wuhan Iron and Steel Corporation. 7 July 2016. Retrieved 3 October 2016.
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Global Information
CN¥58.338 billion (2015)