Baosteel Co., Ltd. has a net profit of 10 billion yuan for half a year, and plans to build nearly 190 billion yuan to build Zhanjiang No. 3 blast furnace.

Release:Anyang Penghang Metallurgical Refractory Co., Ltd.Browse:825times

On the evening of August 27, Baosteel Co., Ltd. (600019), a leading domestic steel company, issued a semi-annual “transcript”. In the first half of 2018, the company's operating income was 148.534 billion yuan, an increase of 2.17% compared with the same period of the previous year (hereinafter referred to as "year-on-year"); net profit attributable to listed shareholders was 10.009 billion yuan, an increase of 62.23%; basic earnings per share 0.45 yuan.

Baosteel Co., Ltd. is a leading global large-scale steel conglomerate, focusing on the steel industry and engaged in processing and distribution related to the steel industry. In February 2017, with the merger of Baowu University, the original Wuhan Iron and Steel Co., Ltd. (600005, which has been delisted) was absorbed and exchanged by Baosteel Co., Ltd. at a ratio of 1:0.56, and the substantive merger of the listed company was officially completed. At present, Baosteel owns four production bases of Shanghai Baoshan, Wuhan Qingshan, Zhanjiang Dongshan and Nanjing Meishan. It is one of the world's most complete steel steel companies.

In the first half of the year, the company completed iron production of 22.767 million tons, steel output of 23.956 million tons, and sales of commodity billets of 23.261 million tons, achieving a combined profit of 14.08 billion yuan, the highest level of performance in the same period since the listing.

The report mentioned that the company continued to promote Baowu integration work, comprehensively sort out the integration tasks, strengthen the effective implementation of project initiatives, and play a performance traction role to maximize synergies. We will carry out reform work in three aspects, including organizational system, operational mechanism, and human resources, and continue to promote the reduction of corporate households, the slimming of participating companies, the optimization of organizational structure, and the improvement of labor efficiency.

Through the efforts to build Shanghai Baoshan, Wuhan Qingshan, Zhanjiang Dongshan and Nanjing Meishan four manufacturing bases, Baosteel actively promotes the implementation of unified management of marketing, procurement and R&D, and builds a centralized management model with multiple manufacturing bases with Baosteel characteristics.

During the reporting period, the company proposed a new three-year cost reduction target: 2018-2020, with a cost reduction of 10 billion yuan. Focusing on five dimensions of cost change, namely, change-driven, management cost reduction, synergistic cost reduction, technology cost reduction and economic operation, the company achieved a cost reduction of 3.12 billion yuan in the first half of the year.

At the same time, the company further increased the disposal of inefficient and inefficient assets, focusing on the shareholding companies to further rationalize the equity, Tianjin Baosteel Chuanling Materials Distribution Co., Ltd., Qiwu Trading Co., Ltd., Wuhan Iron and Steel Co., Ltd. and Wuhan Iron and Steel Co., Ltd. Four companies including Huabao Co., Ltd. carried out liquidation and cancellation, and recovered an investment of 140 million yuan.

For the domestic steel industry, the report said that the country's crude steel output in the first half of the year was 450 million tons, up 6.0% year-on-year; the China Steel Association's steel price index was 114.75, up 15% from the same period of last year; the Platts 62% iron ore index was daily average US$69.9, a decrease of 6% compared with the same period of last year, and the difference between the purchase and sale of steel products has increased.

In the first half of the year, the domestic steel market showed a weak first, then strong, wide fluctuations. Since the second quarter, with the combination of supply and demand, environmental protection policies, inventory reduction and other factors, the domestic market prices have gradually stabilized and rebounded, and the overall fluctuations have been collected. narrow.

Looking forward to the second half of the year, Baosteel believes that the stable and stable economic situation in China will not change. Thanks to the steady release of downstream manufacturing demand, the de-capacity of the steel industry and the strengthening of environmental supervision and rectification, the overall supply and demand environment of the steel industry is relatively stable. . However, due to factors such as continued investment in infrastructure investment, new capacity injection and the rise of international trade protectionism, Baosteel believes that the steel industry still has certain operational risks.

It is worth mentioning that Baosteel also issued the “Announcement on the Project of Constructing the Three-Boiler System of Zhanjiang Iron and Steel Co., Ltd. of Baosteel”. The company plans to build the three-high furnace system project of Zhanjiang Iron and Steel Co., Ltd., with a preliminary forecast, the total investment of the project is 18.85 billion yuan; The financial internal rate of return of Zhanjiang Steel's production performance in the past three years is approximately 11.9%.

The main varieties of Baosteel Zhanjiang Iron and Steel blast furnace system project include cold-rolled ultra-high-strength steel, high-strength and high-surface-grade pickling board, automobile outer board and hot-rolled high-strength steel. Among them, the proportion of high-strength and high-surface products is obviously improved.

Baosteel said that after the project is completed, Zhanjiang Iron and Steel's energy utilization efficiency, logistics and transportation efficiency, production efficiency, labor efficiency and investment efficiency will be further improved, and production costs will be reduced. It is estimated that after the completion of the project, Zhanjiang Iron and Steel per capita steel production efficiency will reach 2,300. Tonne/year or more.

Baosteel Zhanjiang Iron and Steel Plant is known as the “Dream Factory” of the steel industry. The Zhanjiang project was awarded the “Road of the National Development and Reform Commission” in 2008, allowing for preliminary work. Finally, in May 2012, the National Development and Reform Commission approved Baosteel Guangdong Zhanjiang Steel Base Project. On May 31, 2015, the Zhanjiang Iron and Steel Base project started construction and piling.

On September 25, 2015, Baosteel Zhanjiang Iron and Steel No. 1 blast furnace was ignited; on July 15, 2016, No. 2 blast furnace was successfully ignited. Since then, the first phase of Zhanjiang Steel has been fully completed and has the capacity to produce 9 million tons of steel per year.

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