Baowu News

[ 2018-04-26 ]

On the afternoon of April 20th, China Baowu Steel Group Corporation held work conference of the first quarter of 2018, looking back and analyzing management situation of the company in the first quarter, and deploying key works of the next phase. In the first quarter, management performance of the group company sustained substantial growth year-on-year, and profits continued its leading position in domestic steel industry. Leaders including general manager of the group company and deputy secretary of the Party Committee Chen Derong etc. attended the conference.

On the conference, Safety Supervision Department, Energy and Environment Protection Department, Finance Department, etc. of the group company respectively made special work reports. Steel Industry Development Center, Service Industry Development Center, Industrial Finance Development Center, City New Industry Development Center, Baosteel Co., Ltd., WISCO etc. made separate management reports centering on accomplishments of management performances, business plans, and key works of the next phase, etc.. Shaoguan Steel made communication speech. Various leaders in the group company who were in charge respectively made comments.

In the first quarter, various units of group company seized favorable opportunities of production limitations due to environment protection and steel market rally, and implementation of internal focus and improvement projects, profits calculated with the same caliber sustained rapid growth and surpassed estimated time schedule. Crude steel throughput of Steel Industry Development Center rose year-on-year, and profits and EVA reached anticipated objectives. First quarter overall profits and EVA of Service Industry Development Center surpassed estimated schedule, among them, EVA turned out to be positive number. Under the industrial background of “de-leveraging and strict supervision”, various companies of Industrial Finance Development Center overcame numerous difficulties and main performance parameters of the first quarter kept stable. City New Industry Development Center accelerated pushing forward of development and utilization of stock land parcels and real property according to strategic deployment of “one base and five elements” of the group company, and accomplished as plan key works of the first quarter. First quarter production and operation of Baosteel Co., Ltd. were smooth, steady and orderly, cost reduction had a fine start, management performance kept at the high level, turnover efficiency of “the two kinds of capital” was optimal than those of the same period last year, and intelligent manufacture and environment operation achieved new progress. WISCO accelerated the pushing forward of industrial integration and arrangement, accelerated building up of market management mechanism, strengthened system capacity building, focused on new city and new industry service, first quarter profits and EVA continued improvements year-on-year. 

Chen Derong commented on management spotlights of the first quarter in his speech: overall accomplishments of production management in various units of group company were relatively fine, all had gained improvements compared to the same period last year; reform and innovation were pushed forward both in scope and in depth; works on integration and fusion were deepened ceaselessly, scale effects through pushing forward of professional integration works at group level emerged; implementation of “one base and five elements” strategy was accelerating steps. When addressing problems and challenges encountered currently, Chen Derong emphasized, we should guard against risks of unilateral downward of the steel industry, and risks brought by financial risks and trade tension; we should keep an eye for problems within the enterprise of high levels of “two kinds of capital”, increasing of percentage of loss-incurring subsidiary companies, severe situation of safety production, etc.. Chen Derong raised requirements for works of the next phase: we should make all our efforts to enhance quality and improve efficiency. We should strengthen forces of consolidation and control of “the two kinds of capital”, do well in works of curing the zombie and getting rid of poverty, reducing losses and increasing profits, and enhance clean-up efforts of zombie enterprises. We should do well in various items of works of management: deepen integration and fusion, further push forward professional integration, and enhance system capacity; accelerate new business development; further optimize investment and management institutions; fully implement management responsibility system within tenure; strengthen safety management in a continuous way, and strengthen process management and control for site safety in a way like the work of patrolling; attach great significance to works of environment protection. Chen Derong also raised requirements targeted at specific situations of various units.

Source:Baowu News Centre