Benxi Steel Group

Benxi Steel Group Corp., Ltd. known as Benxi Steel Group (or Bengang in China) is a Chinese holding company based in Benxi, Liaoning Province, for two steel making group.

Benxi Steel Group
Typestate-owned enterprise
IndustryIron and steel manufacturing
Founded
  • 1905 (Benxi Coal Mine)
  • 1996 (Benxi Iron and Steel Ltd.)
  • 2010 (Benxi Steel)
Headquarters
Benxi
,
China
RevenueDecrease CN¥65.251 billion (2014)
Increase CN¥301.825 million (2014)
Increase CN¥105.685 million (2014)
Total assetsIncrease CN¥142.951 billion (2014)
Total equityIncrease CN¥36.817 billion (2014)
Owner
  • Liaoning SASAC (80%)
  • Liaoning Social Security Fund (20%)
ParentLiaoning SASAC
Subsidiaries
  • Benxi Iron and Steel (100%)
  • Bengang Steel Plates (77.10%)
  • Beiying Iron and Steel (83.66%)
Footnotes / references
in a consolidated basis[1]
Benxi Steel Group Corp., Ltd.
Simplified Chinese本钢集团有限公司
Traditional Chinese本鋼集團有限公司
Alternative Chinese name
Simplified Chinese本钢集团
Traditional Chinese本鋼集團
Literal meaningBengang Group
Benxi Iron and Steel
Simplified Chinese本溪钢铁
Traditional Chinese本溪鋼鐵

The company was formed in 2010 as the holding company for Benxi Iron and Steel (Group) Co., Ltd. (Chinese: 本溪钢铁(集团)有限责任公司) and Beitai Iron and Steel (Group) Co., Ltd. (Chinese: 北台钢铁(集团)有限责任公司), the latter now known as Benxi Beiying Iron and Steel (Group) Co., Ltd. (Chinese: 本溪北营钢铁(集团)股份有限公司).

According to World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 21st in 2015 the world ranking by production volume.[2]

It was owned by State-owned Assets Supervision and Administration Commission (SASAC) of Liaoning Provincial People's Government.

History

In 1905, after the Russo-Japanese War, Liaoning fall under the sphere of influence of Japan. Japanese Okura Kihachiro opened a coal mine in Benxi. After the protest of Qing Government, it became a Sino-Japanese joint venture in 1910 (as Chinese: 本溪湖商辦煤礦業有限公司; lit. 'Benxi Lake Commercial Coal Mining Company Limited'). In the next year the company added "Iron" in the denomination (as Chinese: 本溪湖煤鐵有限公司; lit. 'Benxi Lake Coal and Iron Company Limited'). After the Mukden Incident, the company was under sole Japanese control until the end of World War II. During Chinese Civil War, in 1948 the company and Liaoning fall under Communist Party of China controls.[3] In 1953, the coal mine was separated from the company as Benxi Mining Bureau.[4] (now part of Shenyang Coal Industry) The steel refinery was also modified under the aid of Soviet Union as 1 of 156 important construction projects of the First Five-year plan of China. It was one of the 512 important state-owned enterprises in 1997. (1 of 47 iron and steel industry)[5]

In 2005 a merger between Benxi Iron and Steel and Anshan Iron & Steel Group Corporation was announced but never materialized. In 2010 a new holding company was formed to takeover "Benxi Iron and Steel" and "Beitai Iron and Steel", located in Beitai, a town in Pingshan District, Benxi. The latter was owned by SASAC of Benxi City, but was transferred to Liaoning SASAC in order to finalize the merger.[6] In August 2021, Bengang began a merger with Ansteel Group which, once completed, will create the third largest metal producer in the world.[7]

Subsidiaries

Bengang Steel Plates, a subsidiary of Benxi Iron and Steel, is a listed company in Shenzhen Stock Exchange (SZSE: 000761). As at 7 November 2016, Bengang Steel Plates was a constituent of SZSE 1000 Index (top 1000 companies by capitalization) and SZSE 700 Sub-Index (the 301st to 1,000th companies by capitalization), but not a constituent of SZSE Component Index (top 500 companies by capitalization), making the listed company was ranked between the 501st to 1000th by free float adjusted market capitalization.

References
  1. "2016年第一期本钢集团有限公司公司债券发行文件". Benxi Steel (in Chinese). chinabond.com.cn. 22 April 2016. Retrieved 30 September 2016.
  2. "World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
  3. "WZ01". www.bxsteel.com. Archived from the original on 22 May 2011. Retrieved 12 January 2022.
  4. "WZ041". www.bxsteel.com. Archived from the original on 22 May 2011. Retrieved 12 January 2022.
  5. "关于深化大型企业集团试点工作_范坤_新浪博客".
  6. "2014 Annual Report". Benxi Beiying Iron and Steel (Group) Co., Ltd. (in Chinese). Shanghai Clearing House. 29 April 2015.
  7. "China steel firms start merger to create world's third biggest producer," Reuters, 20 August 2021, retrieved 8 September 2021
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