Taiyuan Iron & Steel (Group) Co., Ltd (“TISCO” or the company) is an integrated stainless steel business operation platform enterprise hold by China Baowu Steel Group. In 2020, the company produced totally 10.69 million tons of steel, including 4.19 million tons of stainless steel. Its revenue in the same year was RMB 78.6 billion, total profit RMB 3.9 billion and tax RMB 2.9 billion.
TISCO Group, known as Northwest Steel Mill initially, was founded in the year of 1934 when the country was in the Republic of China Era. After the P. R. China was founded in 1949, the company was assigned a new mission of developing special steel and it produced the first heat of stainless steel, the first hot rolled silicon steel sheet, and the first electro-magnetic pure iron. Besides, TISCO was also the cradle of China’s first stainless steel refining furnace, the first stainless steel vertical slab continuous casting machine, the first cold rolled stainless steel production line, the first cold rolled wide stainless steel plate brightening and annealing line, as well as the first stainless steel cold and hot rolled coil AP line. In 1998, it initiated the establishment of A-share listed company, the Shanxi Taigang Stainless Steel Co., Ltd. (stock code: 000825.SZ); in 2006, its predominant sector, i.e. the steel business was publicly listed. On December 23rd, 2020, TISCO Group was restructured to being controlled by China Baowu; on January 1st, 2021, TISCO Group was entrusted to manage two subsidiaries of China Baowu, i.e. Baosteel Desheng Stainless Steel Co., Ltd. and Ningbo Baoxin Stainless Steel Co., Ltd.
TISCO Group has been focusing on developing stainless steel and other special steel for a long time. It has set up innovative platforms such as State Key Laboratory of Advanced Stainless Steel Materials, State-level Physical and Chemical Laboratory, Shanxi Stainless Steel Engineering Technology Research Center, Shanxi Railway Rolling Stock Steel Engineering Technology Research Center, etc. It owns more than 800 independent knowhow and proprietary technologies in stainless steel field, and has led or participated the rolling out of more than 70% standards in China for stainless steel plate and strip products. The company’s efficiency-cost, energy-conservative, and long-life steel product mix is composed of stainless steels, cold rolled silicon steels, high strength and high ductility steels. Its stainless steel products cover a full spectrum of plates, strips, profiles, wires and pipes, in extreme width and thickness. Its cutting-edge and high-end products, including nib steels, hand-tearable steels, steels for nuclear power use, steels for railway use, duplex stainless steels, high grade silicon steel for New Energy Vehicle, are well known home and abroad. At the same time, the company actively seeks diversified development in mine resources industry, medical and health industry, new materials industry, engineering technology, energy conservation and environmental protection industry, financial industry, etc. It has a new material product cluster represented by high-performance carbon fiber and nickel-based alloy, the largest modern metallurgical open-pit mine in Asia, and a province-wide first-class general hospital.
In the course of forming a relatively complete industrial chain of solid, liquid and gaseous waste recycling economy, TISCO Group firmly adheres to the road of green development, adopts world-class technology, promotes independent innovation, implements the upgraded version of green development, pushes forward the environmental protection level from being good to being great. By treating urban domestic sewage and providing heating sources for the city, the company realizes integration with the city. TISCO has become a pioneer of green factories and Grade A enterprises of steel industry in China with ultra-low emission in the whole industry chain.
TISCO Group has successively won the honorary titles of China Industrial Award, China Quality Award Nomination Award, National Quality Award, National Advanced Unit of Circular Economy, National Technological Innovation Demonstration Enterprise, National Most Socially Responsible Enterprise, National Model Enterprise of Harmonious Labor Relations, National Excellent Unit of Enterprise Culture Construction and National Greening Model Unit.
Facing the future, TISCO Group will adhere to the guidance of General Secretary Xi Jinping's new era of socialism with Chinese characteristics, resolutely implement the spirit of the important speech delivered by Xi in his investigation tour to China Baowu. It will accelerate the integration into the "high-quality steel ecosystem" of China Baowu, together with whom create a "global steel industry leader". It will also dedicated to creating a new path for Shanxi's transformation and development.