Industry Iron and Steel Revenue 284.5 billion CNY (2015) Founded 2008 Total equity 48.6 billion CNY (2015) | Area served China, Serbia Headquarters Shijiazhuang, China Total assets 348.8 billion CNY (2015) Type State-owned enterprise | |
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Operating income Net income (CN¥1.3 billion) (2015) Owner Government of Hebei Province (zh) Parent State-owned Assets Supervision and Administration Commission of the Government of Hebei Province Subsidiaries Hansteel Group, Hesteel Serbia, Tangsteel Group | ||
Hesteel Group Company Limited is a Chinese iron and steel manufacturing conglomerate, also known as Hesteel Group or its pinyin shortname Hegang. The company was also known as Hebei Iron and Steel Group Co., Ltd. or HBIS until 2016. (Chinese: 河北钢铁集团有限公司)
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Hesteel Group is the second-largest steel producer in the world measured by crude steel output (after European-Indian conglomerate ArcelorMittal) in 2015, according to World Steel Association (Chinese companies data was provided by China Iron and Steel Association). After the announcement of the merger of Baosteel Group and Wuhan Iron and Steel Corporation (WISCO) in September 2016, Baowu Steel Group's pro forma production volume in 2015 would be the second in the world, exceeding Hesteel Group. However, Hesteel Group, Baosteel Group and WISCO all announced the cut in production capacity, in response to the market demand and government policy, thus the final ranking could not be predicted.
By net assets, Baosteel Group's subsidiary was already exceed the net assets of Hesteel Group as at 31 December 2015.
Hesteel Group had a second-tier subsidiary listed in Shenzhen Stock Exchange: Hesteel Company, which is control by the direct subsidiaries Hansteel Group and Tangsteel Group of Hesteel Group.
History
Hebei Iron and Steel Group Co., Ltd. was established on 30 June 2008 by the merger of Tangshan Iron and Steel Group and Handan Iron and Steel Group of Hebei Province.
The company had an indirectly listed subsidiary, Hesteel Company , which was known as Hebei Iron and Steel Company until June 2016.