[Ferro-Alloys.com]：

  In 2020, TISCO overcame the difficulties of periodical operation imbalance caused by the shutdown and overhaul of blast furnace. The production and operation of TISCO were stable and controlled. The business performance ranked the forefront of iron and steel industry. Its joint re-organization with China Baowu entered implementation stage, and new achievements were made in high-quality transformation development.

  From January to November, TISCO produced 9.6775 million tons of crude steel, realizing an added value of 15.869 billion yuan and a total profit of 3.138 billion yuan. It is estimated that the annual output of crude steel will reach 10.68 million tons, and that of stainless steel will be 4.18 million tons. It is expected that 0.7082 million tons of steel and 0.5 million tons of stainless steel will be exported throughout the year. This year’s profit will be 3.9 billion yuan, with a YoY increase of 11.43%. The total annual output value will be 83 billion yuan, with an added value being 17.6 billion yuan. What’s more, 2.547 billion yuan of taxes will be handed over.

  Under the combined effect of internal and external unfavorable factors, TISCO's crude steel output, steel export volume, business income have declined. However, some key core indicators reflecting the profitability and operation level of the enterprise have achieved adverse growth, and the competitiveness of the enterprise has been significantly enhanced: the total profit has achieved double-digit growth, which ranks high in steel industry; the asset-liability ratio continues to decline; investment in technology research and development has remained at a high level, with stainless steel, nickel base alloy and hand tearing steel for the fourth generation nuclear power fast reactor rising 60% over the previous year and the proportion of invention patent applications being more than 60%.

  In 2021, TISCO will produce 15.25 million tons of crude steel, including 6.5 million tons of stainless steel, which has gained 108 billion yuan of operating revenue and 4.27 billion yuan of total profit. By the end of the 14th five-year-plan, the scale of steel industry will reach 25 million tons and that of stainless steel will be 15 million tons; the scale of revenue will reach 200 billion and the level of profit will reach 10 billion; the self-sufficiency rate of nickel and chromium resources will reach more than 30% and 50%, respectively.

  During the "14th five-year-plan" period, TISCO will take various measures to accelerate the construction of the whole stainless steel industry chain system: speed up the integration with Baowu and realize the benefits and effects of joint restructuring as soon as possible; vigorously promote scientific and technological innovation and make full efforts on "special steel"; promote professional integration and joint merger and acquisition to rapidly expand the scale of stainless steel industry; vigorously improve project construction and nurture new advantage of high-quality development; speed up the development of intelligent manufacturing to improve operation efficiency and synergy effect comprehensively; penetrate into tapping the potential to further accelerate management cost-efficiency; develop diversified industries focusing on new materials and accelerate the process of industrial structure adjustment; make full use of key reform measures to continuously stimulate the vitality of development; adhere to environmentally-friendly development to improve environmental performance; adhere to party's leadership, strengthening party's construction, and leading high-quality transformation with high-quality party building.

• [Editor:Catherine Ren]