Baosteel Group Co., Ltd. is ranked Class A Enterprise

A few days ago, SASAC (State-owned Assets Supervision and Administration Commission of the State Council) announced the result of operation performance 2006 of the responsible persons of the national enterprises and meanwhile measured and assessed the performance result of seven pilot enterprises of the board of directors in accordance with the "Law of Corporation". The performance result of Baosteel Group Co., Ltd. is Class A.

In 2006, there are 150 national enterprises in total brought into the range of the examination by SASAC. During the examination, SASAC earnestly determined the performance result based on Interim Method on Operational Performance Examination of the Responsible Person of the National Enterprise and the engagement on operational performance liability, sticking to the principle of one industry, one scale and the same factor, the same disposal, strictly checking on the enterprises with the performance result of Class A and conscientiously examining the problems concerned with Class D and E enterprises, adequately adding marks for companies that are trustees of other enterprises resulting in operation difficulties and respectively deducting marks from or downgrading the companies that have rather severe production and safety liability accidents, breaches rules and principles or have serious financial management problem.

After performance measurement, A Class has 34 enterprises, accounting for 22.67% of the total companies measured; B Class has 77, accounting for 51.33% of the total measured; C Class has 35, accounting for 23.33% and D Class has 4 companies, accounting for 2.67% of the total.

Last year, facing the severe situation of intensive competition in globe steel industry, strain resources worldwide and steel production cost rising, Baosteel positively pushed forward the integration management, optimized the flow, enhanced technology innovation, optimized investment structure, promoted reconstruction of steel enterprises and enhanced his efforts on energy saving, discharge reducing and environment protecting, which have gained delightful achievement: annual steel capacity was 22.

5318 million tons, achieving 180.681 billion RMB of sales revenue, 2.56% up over the same period of the previous year; achieving consolidated profit 22.577 billion RMB, 2.27% up over the same period of the previous year, ascending to World Top 500 for four consecutive years.