Shanghai Baosteel Group Corporation (referred to below as Baosteel) is a large iron and steel conglomerate set up on Nov. 17, 1998, with the former Baoshan Iron and Steel (Group) Corporation as the core, and absorbing the former Shanghai Metallurgical Holding Group Corporation and the former Shanghai Meishan Group Co., Ltd.

Baosteel has a registered capital of 45.8 billion Yuan. It possesses 22 wholly owned subsidiaries (including 9 overseas subsidiaries) and 14 holding companies (including 2 overseas subsidiaries) and 24 equity-sharing companies. Among the wholly owned subsidiaries and share holding companies, 11 are iron and steel companies, 2 financial companies, 8 trading companies.

Baosteel is one of the most profitable steel enterprises in the world enjoying international competence, and its annual production capacity is about 20 million tons. Baosteel produces high demand products in the domestic and international market. On Dec. 6. 2004, Standard & Poor has raised the credit rating of Shanghai Baosteel Group Corporation from BBB to BBB+ with a"stable" outlook. Baosteel was ranked No. 372 on the list of 2003 Global 500 by "Fortune" magazine on July 2004, and became the first of its kind in the competitive industry and the manufacturing sector in China to enter the world's top 500 enterprises.

Baosteel follows its "premium products" strategy and aims to become the prime research and development base for new processes, new technologies and new materials in China's iron and steel industry. Baosteel's premium products include automobile steel, oil and gas exploitation and transportation steel, stainless steel，household electric appliance steel, transportation facilities steel, silicon steel, boiler and pressure vessel steel, food and beverage packing steel, metal production steel, special material steel, high-grade construction steel. Baosteel aim to become the prime research and development base for new processes, new technologies and new materials in China's iron and steel industry.

Baosteel follows a strategy of “one main industry of exceptional quality with appropriate and relevant diversified trades”. Besides its main steel business, Baosteel also engages in diversified industries such as trade, finance, engineering & equipment manufacturing, information, coal chemical industry, deep processing of steel products and recycling.

Baosteel conducts internationalized operation. The global network, including 20 overseas and domestic trading companies, has taken shape. Baosteel cooperates and establishes joint ventures with international steel giants; it has made strategic alliances worldwide to achieve win-win result on the basis of mutual benefit.

Baosteel has committed itself to clean production and paid great attention to environmental protection to make a green Baosteel. Baoshan Iron & Steel Co., Ltd. is the first enterprise among the domestic metallurgical circle to get the ISO14001 certificate. Its greenbelt covers 42.71% of total plant area, and its air quality in the plant area has reached the standard of a State-level scenic spot. The Company has been recognized as the first State-level industrial showplace in China.

Baosteel has devoted itself to social charity causes such as the establishment of the Baosteel Arts Award and the Baosteel Education Fund. Many outstanding artists, teachers and students have received the awards. Baosteel has also donated nine million Yuan to the “Hope Project” to build up 25 Hope Primary Schools and a middle school. Baosteel grows together with society, and giving back to society is Baosteel’s sustained pursuit.

Baosteel is, first and foremost, people. Exacting is our spirit; study and innovation is our road; pursuit of the first class is our goal.

Baosteel is full of vigor and opportunity, and we look with confidence towards the future.

Website: www.baosteel.com