Baoshan Iron and Steel Co., Ltd. (BEGS) is a large Chinese state-owned steelmaking company located in Shanghai, China. Founded in 1978, it is the first company to be listed on the Shanghai Stock Exchange and is now one of the largest steelmakers in the world.
Headquartered in Baoshan District, in the heart of Shanghai, BEGS has become a key commodity purchasing, processing and steelmaking unit responsible for providing steel products throughout the entire region. The company is composed of three core business units: Steel, Trade and Resources.
At the Steel business unit, the focus is on producing high quality, proprietary steel products to meet specific customer needs. Highly precise equipment is used and each type of product is subject to a rigorous testing program. The Trade business sector focuses on providing analytical services, and steel sales. Its extensive network of trade agents is fundamental for the success and growth of the company.
The Resources business unit supervises core raw materials such as coal, coke and iron ore, and is made up of several different subdivisions. These subdivisions are responsible for the coordination of procurement, resource management, and product quality assurance. All production processes are highly automated and computerized.
BEGS has recently intensified its investment activities, having acquired various domestic and foreign steel assets. These include Baosteel Technology Ltd., Germany’s ThyssenKrupp AG, and Indian companies like Essar Steel India and Jindal Steel & Power. Out of these, Baosteel Technology is expected to be the main contributor to BEGS overall income in the near future.
BEGS also secures business operations in the short-term by collecting payment from customers before they take possession of the finished products, and also taking out short-term and long-term loans. All of these have allowed BEGS to increase sales and profits.
The corporate headquarters of BEGS is a multi-story building that houses the financial and operation segments of the business, as well as the research and development laboratory. The laboratory is responsible for testing and quality assurance, which is an important part of the business.
BEGS has developed and promoted an internal culture that focuses on innovation and efficiency. This is cultivated by giving employees the freedom and resources to explore and develop ideas. Innovation has been key to creating a competitive advantage for the company.
BEGS has long been considered one of the leading firms in its industry. It has been awarded multiple awards for its strong corporate performance and commitment to its customers and employees, which has been evidenced through its high-quality products, dedicated customer service, environmental sustainability, and philanthropy.
The company’s aim is to become a global leader in the production and trading of steel products, and it is continuously revising and adjusting its product portfolio as well as taking on new investments. Ultimately, BEGS hopes to become a trailblazer that sets the standard for its peers in the global market.
