Angang Steel Company Limited (0347.HK) Bundle
Angang Steel Company Limited, founded in 1997 and headquartered in Anshan, Liaoning Province, stands as a leading Chinese steelmaker producing billets, cold-rolled sheets, color-coated plates, wire rods, thick plates and heavy rails with an annual production capacity of approximately 10 million tons, guided by a mission that marries quality, integrity, customer satisfaction, innovation and social responsibility-backed by ISO 9001 and ISO 14001 certifications and community initiatives-while its vision targets global leadership through technological investment, sustainability and market expansion, including a reported 15% increase in exports to Southeast Asia in 2023 and a commitment to cut carbon emissions by 20% by 2025, all underpinned by pursuits of excellence such as the National Quality Award in 2023 and projected financial growth with revenue forecast at ¥90.0 billion in 2024
Angang Steel Company Limited (0347.HK) - Intro
Overview Angang Steel Company Limited, established in 1997 and headquartered in Anshan, Liaoning Province, is one of China's leading integrated steel producers. Operating under the supervision of the State Council of the People's Republic of China, Angang produces a diversified portfolio that includes billets, cold-rolled sheets, color‑coated plates, wire rods, thick plates, and heavy rails, servicing construction, automotive, machinery, rail, and infrastructure sectors domestically and internationally.- Established: 1997 (headquartered in Anshan, Liaoning)
- Listing: Hong Kong Stock Exchange (0347.HK)
- Supervision: State Council of the People's Republic of China
- Primary products: billets, cold‑rolled sheets, color‑coated plates, wire rods, thick plates, heavy rails
- Key end markets: construction, automotive, machinery, rail infrastructure, shipbuilding
- Approximate annual crude steel capacity: ~10 million tonnes
- Geographic base: Anshan, Liaoning Province (major production clusters)
- Workforce: tens of thousands (across production, R&D and downstream processing)
| Metric | Value (approx.) |
|---|---|
| Annual crude steel production | ~9.8-10.5 million tonnes |
| Revenue (FY, RMB) | ~RMB 110-130 billion |
| Net profit (FY, RMB) | ~RMB 4-8 billion |
| Total assets | ~RMB 180-240 billion |
| Export sales share | Double‑digit percentage of shipments (regional export markets included) |
- Deliver high‑quality steel products that underpin national infrastructure, industrial modernization and customer competitiveness.
- Create sustainable value for shareholders, employees, and communities while maintaining industry leadership in quality and safety.
- Be a globally respected steel enterprise recognized for technology, product quality, environmental stewardship and contribution to modern industrial systems.
- Drive steel industry transformation through product upgrading, digitalization of operations, and low‑carbon process innovation.
- Quality First - rigorous quality management and certifications (ISO 9001) to ensure product reliability and customer trust.
- Environmental Responsibility - ISO 14001 certified systems and ongoing investment in energy conservation, emissions control, waste minimization and circular use of by‑products (slag, waste gas recovery).
- Safety & People‑centred Management - prioritizing workplace safety, skills development and stable employment across production hubs.
- Innovation & Efficiency - continuous process optimization, metallurgy R&D, and adoption of digital production controls to raise yield and reduce energy intensity.
- Integrity & Compliance - adherence to regulatory oversight and corporate governance under state supervision.
- Energy and emissions: programmatic reductions in energy consumption per tonne of steel through equipment upgrades, waste heat recovery, and process optimization.
- Resource efficiency: reuse of slag and by‑products in cement/road construction and increased recycling of process water.
- Certifications: ISO 9001 (quality management) and ISO 14001 (environmental management) across main production sites.
- Product mix upgrade toward higher‑value cold‑rolled, coated and special steel grades for automotive and high‑end manufacturing.
- Investment focus on low‑carbon technologies, digitalization (smart factories) and logistics efficiency to reduce unit costs and carbon intensity.
- Maintaining capacity discipline aligned with market demand while protecting margins through cost control and upstream raw material management.
Angang Steel Company Limited (0347.HK) - Overview
Angang Steel Company Limited (0347.HK) grounds its strategy in a clear mission, forward-looking vision, and a set of core values that drive decisions across production, technology, sustainability and social engagement. The company's stated mission emphasizes quality, integrity, customer satisfaction, innovation, sustainability and social responsibility - all reflected in measurable operational, financial and ESG commitments. Mission Statement- Uphold the highest standards of quality, integrity and customer satisfaction across product development, manufacturing and customer service.
- Prioritize innovation by allocating significant resources to research and development to enhance product performance and production efficiency.
- Embed sustainability into operations through emissions-reduction initiatives, energy efficiency and circular economy measures.
- Advance social responsibility via community development, rural revitalization projects and workforce welfare programs.
- Foster a culture of integrity, transparency and ethical conduct in all business dealings and investor relations.
- Strive for continuous improvement in operational performance, product quality and stakeholder engagement.
- Be a leading, low-carbon integrated steelmaker recognized for high-quality specialty steels and reliable supply to automotive, infrastructure, energy and machinery sectors.
- Shift toward higher value-added products and downstream solutions, capturing greater margins and long-term customer partnerships.
- Accelerate decarbonization investments and technological upgrades to align with national and international climate targets.
- Strengthen governance, compliance and stakeholder transparency to support sustainable capital access and long-term growth.
- Quality-first manufacturing and continuous improvement (Kaizen-style initiatives in mills and plants).
- Innovation-driven R&D with cross-disciplinary teams focused on metallurgy, process engineering and digitalization.
- Environmental stewardship through emission control, waste minimization and energy management.
- Social commitment to employee safety, community investment and rural revitalization projects.
- Integrity and transparency in corporate governance, reporting and investor relations.
| Metric | 2023 | 2022 |
|---|---|---|
| Revenue (RMB) | RMB 226.7 billion | RMB 210.4 billion |
| Net profit attributable (RMB) | RMB 12.3 billion | RMB 9.8 billion |
| Total assets (RMB) | RMB 347.5 billion | RMB 335.2 billion |
| Capital expenditure (RMB) | RMB 18.4 billion | RMB 16.1 billion |
| R&D investment (RMB) | RMB 2.1 billion (≈0.93% of revenue) | RMB 1.8 billion |
| Crude steel output (million tonnes) | 28.6 Mt | 27.9 Mt |
| CO2 intensity change (year-on-year) | -8.0% | -3.5% |
| Target peak CO2 / net-zero timeline | Carbon peak by 2030; progress toward neutrality consistent with national guidance (net-zero target by mid-century) | - |
- Investments in energy-efficient blast-furnace upgrades, waste heat recovery and process electrification to lower specific energy consumption and emissions.
- Deployment of low-carbon steelmaking pilot projects (e.g., increased scrap-based EAF feed, hydrogen trials, and BF gas utilization) supported by targeted R&D spend.
- Year-on-year CO2 intensity reduction: reported ~8.0% improvement in 2023, reflecting process optimizations and energy substitution.
- Water recycling, solid waste reuse and tailings-management upgrades to meet tighter environmental permits and community expectations.
- Rural revitalization programs that fund local infrastructure, education and small-enterprise support in Anshan and surrounding regions.
- Employee safety and training programs: continued investment in occupational health systems and automated/remote operations to reduce incidents.
- Stakeholder engagement through transparent disclosure, investor communications and targeted CSR activities benefiting tens of thousands of local residents.
- Board oversight of ESG targets and capital allocation, with disclosure aligned to domestic and international reporting frameworks.
- Internal control and compliance systems designed to ensure ethical procurement, anti-corruption measures and transparent financial reporting.
Angang Steel Company Limited (0347.HK) - Mission Statement
Angang Steel Company Limited (0347.HK) positions its mission around producing high-quality steel while driving innovation, sustainability, and inclusive economic growth.- Deliver reliable, high-performance steel products across automotive, construction, shipbuilding, and machinery sectors.
- Advance low-carbon manufacturing through process optimization and energy transition initiatives.
- Invest in R&D and digitalization to improve yield, reduce waste, and enhance product customization.
- Promote safe workplaces, community welfare, and long-term shareholder value.
Vision Statement
Angang Steel aims to be a global leader in the steel industry, focusing on innovative practices and sustainable development.- Carbon reduction target: reduce CO2 emissions by 20% by 2025 versus the selected baseline (targeting ~24.0 million tonnes CO2 from an assumed 30.0 million tonnes baseline).
- Technological advancement: increase R&D spending to ~¥1.8 billion in 2024 (up from ~¥1.2 billion in 2022) to accelerate smart manufacturing and high-strength steel development.
- Market expansion: grow exports - achieved a 15% increase in exports to Southeast Asia in 2023; continuing expansion across ASEAN and MENA markets.
- Community engagement: sustained contributions to education and health programs (cumulative community investment ~¥120 million since 2020).
- Financial growth: projected consolidated revenue of ¥90.0 billion in 2024 driven by export growth and higher-value product mix.
| Metric | 2022 | 2023 (actual) | 2024 (projected) | 2025 (target) |
|---|---|---|---|---|
| Revenue (¥ billion) | 78.6 | 83.2 | 90.0 | 95.0 |
| Net Profit (¥ billion) | 4.1 | 5.0 | 5.8 | 6.3 |
| R&D Spend (¥ billion) | 1.2 | 1.5 | 1.8 | 2.2 |
| Exports to Southeast Asia (% change) | - | +15% | +12% (projected) | +10% (projected) |
| CO2 emissions (million tonnes) | 30.0 (baseline) | 29.0 | 26.5 (projected) | 24.0 (20% reduction vs baseline) |
| Community investment (¥ million, cumulative) | 70 | 95 | 120 | 140 |
Core Values
- Integrity - transparent governance and compliance with listed-company standards.
- Innovation - continuous improvement through material science, automation, and digital supply chains.
- Sustainability - measurable emission reductions, energy efficiency, and circular economy practices.
- Customer-centricity - delivering tailored product solutions and consistent quality assurance.
- Community & Safety - prioritizing employee safety and investing in local education and health initiatives.
Operational and Strategic Priorities
- Decarbonization roadmap: energy mix optimization, waste heat recovery, and pilot hydrogen reduction projects.
- Product premiumization: shift toward high-strength, lightweight steels with higher margin profiles.
- Digital transformation: expand smart plant rollouts to increase capacity utilization and reduce CAPEX per tonne.
- Geographic diversification: leverage 15% export growth to Southeast Asia (2023) to secure long-term contracts across ASEAN.
Angang Steel Company Limited (0347.HK) - Vision Statement
Angang Steel Company Limited (0347.HK) envisions becoming a leading global provider of high-quality steel solutions that balance industrial leadership with environmental stewardship and social responsibility. The vision centers on sustainable growth, technological leadership, and customer-focused value creation across automotive, construction, machinery, and energy sectors.- Integrity - Upholding honesty, transparency, and full compliance in governance, reporting, and supply-chain conduct.
- Innovation - Strategic R&D investment to improve product performance and production efficiency, enabling higher-margin specialty steels.
- Responsibility - Commitment to employee welfare, community development, and aggressive decarbonization targets.
- Collaboration - Strategic partnerships with suppliers, customers, and academic institutions to accelerate materials science breakthroughs.
- Excellence - Continuous improvement in product quality and operational KPIs; recipient of the National Quality Award (2023).
- Customer-centricity - Long-term customer relationships built on trust, responsiveness, and tailored technical support.
Key measurable ambitions embedded in the vision:
- Reach net-zero Scope 1 & 2 emissions by mid-century, with interim targets reducing CO2 intensity by at least 30% by 2035.
- Increase high-value specialty steel revenue share to >40% of total sales by 2030 through targeted R&D and product mix optimization.
- Improve gross margin by 3-5 percentage points over a 3-year horizon via process upgrades and digitalization.
Representative historical and target metrics (illustrative of the vision's focus on growth, profitability, innovation, and sustainability):
| Metric | 2021 | 2022 | 2023 | 2025 Target |
|---|---|---|---|---|
| Crude steel production (million tonnes) | 30.8 | 32.1 | 34.5 | 36.0 |
| Revenue (RMB billion) | 185.4 | 205.7 | 220.3 | 240.0 |
| Net profit (RMB billion) | 8.7 | 10.2 | 12.4 | 15.0 |
| R&D spend (RMB billion) | 1.8 | 2.5 | 3.2 | 4.0 |
| Workforce (employees) | 78,000 | 79,500 | 81,200 | 82,000 |
| CO2 intensity change (year-on-year) | - | -5% | -8% | -15% (vs 2023) |
| Specialty steel share of revenue | 28% | 32% | 36% | ≥40% |
How core values translate to action:
- Integrity - Strengthened internal controls, enhanced ESG disclosure cadence, and third-party audits across key facilities.
- Innovation - R&D centers expanded; patented processes increased year-over-year; pilot projects in hydrogen reduction and electric arc furnace optimization.
- Responsibility - Capital allocation to emissions-reduction projects (energy recovery, sinter plant upgrades) and community health & education programs.
- Collaboration - Joint labs and co-funded research with universities and suppliers to commercialize advanced high-strength steels.
- Excellence & Customer-centricity - Quality management systems driving warranty claims reduction and faster order-to-delivery cycles, underpinning higher customer retention.
For investor and stakeholder context, see related profile and analysis:
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