Baowu News

[ 2017-12-06 ]

Recently, Shanghai Stock Exchange announced to adjust the sample stocks of the indexes of Shanghai stock 50, Shanghai stock 180, Shanghai stock 380, Shanghai dividend index, etc..Baosteel regains its position in Shanghai stock 50 index. The adjustment this time will take effect on Dec 11, which means Baosteel has entered into Shanghai stock 50 index again since its moving-out since Dec 2013. 

Since this year, with the deep promotion of supply-side structural reform, the fundamentals of steel industry has taken a turn for the better.In Feb 2017, Baosteel Co.Ltd has implemented the absorption and merger with Wusteel Co., Ltd. Thanks to the merger and re-organization with Wuhan Iron & Steel Co.Ltd, the company witnesses further improvement of production scale and industrial competitiveness, and its capital stock has expanded from previous 16.45 billion shares to 22.103 billion shares.

At the same time, Baosteel Co., Ltd. boasts its speedy integration, remarkable effect of deepening reform, continuous cost change and sustainable coordination of “Four Production Bases”.

With the help of “favorable wind” from external industrial environment, Baosteel Co., Ltd. has harvested notable improvement in this year’s business performance.The total profit added up for first 3 quarters reaches 14.5 billion yuan, 67% year-on-year increase, and the income per share is 0.53 yuan, achieving 96% year-on-year grow. The share price of the company has also been rising gradually. Till Nov.28, the share price closes at 9.12 yuan, increasing more than 40% comparing with that of the early this year.


Source:Baowu News Centre