XiNing Special Steel Co., Ltd. (600117.SS) Bundle
Founded in 1997 and publicly traded as 600117.SS, XiNing Special Steel Co., Ltd. has grown into a workforce of about 4,094 employees producing carbon structural, alloy, stainless and tool steels for automotive, construction and machinery sectors, and its 2024 results show revenue of roughly ¥5.72 billion (a 15.75% increase year‑on‑year) alongside a net loss of ¥863 million, while historically the company reported ¥11.3 billion in 2023 revenue with R&D investment of about ¥1.2 billion (10.6% of revenue); driven by a mission centered on quality, innovation and sustainability, XiNing plans to deploy RMB 200 million in 2024 R&D, launched five new product lines in 2023 that lifted revenue by 15%, targets a 30% reduction in carbon emissions by 2025 through eco‑friendly technologies and renewable energy, aims to enter three new international markets by end‑2024, and underscores integrity and accountability with a 99% internal audit compliance rate in 2023 and 45 whistleblower reports investigated.
XiNing Special Steel Co., Ltd. (600117.SS) - Intro
XiNing Special Steel Co., Ltd. is a vertically integrated Chinese steel manufacturer focused on smelting, rolling and processing special steel for automotive, construction, machinery and other industrial customers. Founded in 1997 and listed on the Shanghai Stock Exchange (600117.SS), the company employs approximately 4,094 people and produces carbon structural steel, alloy steel, stainless steel and tool steel. In 2024 XiNing reported revenue of approximately ¥5.72 billion (a 15.75% increase year-over-year) and recorded a net loss of ¥863 million.- Founded: 1997
- Employees: ~4,094
- Listing: Shanghai Stock Exchange, ticker 600117.SS
- 2024 Revenue: ¥5.72 billion (up 15.75% vs prior year)
- 2024 Net Result: Net loss ¥863 million
- Core product lines: carbon structural steel, alloy steel, stainless steel, tool steel
- Key end markets: automotive, construction, machinery, tooling
| Metric | 2024 | Notes |
|---|---|---|
| Revenue | ¥5.72 billion | +15.75% YoY |
| Net Result | Net loss ¥863 million | Pressure from raw material cost, pricing and capacity utilization |
| Employees | 4,094 | Manufacturing and downstream processing workforce |
| Primary Products | Carbon structural, alloy, stainless, tool steels | Serving multiple industrial sectors |
| Listing | 600117.SS | Shanghai Stock Exchange |
- Deliver high-performance special steel solutions that enable customers' product reliability and competitiveness.
- Maintain integrated production capabilities from smelting to precision processing to control quality and cost.
- Create long-term value for shareholders while safeguarding worker safety and regional industrial development.
- Become a leading domestic supplier of specialty steel grades for strategic industries (automotive electrification, advanced machinery, energy).
- Achieve higher-margin downstream processing and move up the value chain through technical alloys and custom metallurgical solutions.
- Transition toward greener, more efficient production with incremental reductions in energy intensity and emissions.
- Quality first - rigorous metallurgical controls and process traceability.
- Customer focus - tailor-made grades, on-time delivery and technical support.
- Operational discipline - safety, cost control and continuous improvement.
- Innovation - metallurgical R&D, product development and process optimization.
- Responsibility - environmental stewardship and community engagement.
- Margin recovery: improve gross margin by optimizing furnace efficiency and material sourcing.
- Product mix shift: increase revenue share from high-value alloy and tool steels.
- Capacity utilization: elevate utilization of rolling and heat-treatment lines to reduce per-unit fixed costs.
- R&D and quality yield: reduce scrap/rework rates and develop proprietary grades for key OEMs.
- ESG targets: incremental reductions in energy consumption per tonne and emissions reporting enhancements.
- Upstream control - secure ore/ferrous scrap supply contracts and hedging to stabilize feedstock costs.
- Downstream integration - expand precision processing and value-added finishing to capture more margin.
- Cost structure - initiatives to lower energy usage, increase recycling and optimize logistics.
- Customer concentration - diversify customer base across automotive suppliers, construction groups and machinery makers to reduce demand cyclicality.
- Listed equity provides access to capital for modernization and environmental upgrades but also exposes XiNing to market scrutiny after the 2024 net loss.
- Recovery prospects hinge on margin improvement, product mix and stabilization of steel prices and raw material costs.
- For further investor-focused context and shareholder activity, see: Exploring XiNing Special Steel Co., Ltd. Investor Profile: Who's Buying and Why?
XiNing Special Steel Co., Ltd. (600117.SS) - Overview
XiNing Special Steel Co., Ltd. positions itself as a leading producer of high-performance special steels, combining advanced manufacturing, customer-focused service, and sustainability-driven innovation. The company's strategic priorities center on quality, technological leadership, and environmentally responsible processes to serve sectors such as automotive, machinery, energy, and aerospace.
- Mission Statement: Provide high-quality special steel products and integrated solutions that meet diverse industrial demands through technological innovation, operational excellence, and strong customer service.
- Strategic emphases: quality control, continuous improvement, advanced manufacturing techniques, and sustainable production processes.
- R&D-led growth: invest in materials science, process optimization, and low-emission manufacturing to align with global sustainability trends.
Key 2023 operational and financial highlights underline the mission-driven investments and market performance:
| Indicator | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (¥ billion) | 9.0 | 10.09 | 11.30 |
| YoY Revenue Growth | - | 12.1% | 12.0% |
| R&D Expenditure (¥ billion) | 0.80 | 0.95 | 1.20 |
| R&D as % of Revenue | 8.9% | 9.4% | 10.6% |
| Primary End Markets | Automotive, Machinery, Energy, Aerospace | Automotive, Machinery, Energy, Aerospace | |
Vision
- To be a global benchmark in special steel innovation, recognized for high-performance materials and sustainable manufacturing.
- To expand downstream solutions and technical partnerships that deepen customer integration and long-term contracts.
- To achieve carbon- and emission-reduction targets through process electrification, waste minimization, and circular-material initiatives.
Core Values
- Quality-first: rigorous metallurgical controls, product testing, and traceability across the supply chain.
- Innovation: continuous investment in R&D (¥1.2 billion in 2023) to develop higher-value alloys and more efficient processes.
- Customer-centricity: responsive technical support, tailored material solutions, and delivery reliability.
- Sustainability: embed low-carbon process improvements and environmentally friendly practices into production strategy.
- Integrity & safety: adherence to compliance, workplace safety standards, and transparent governance.
For deeper financial analysis and context on XiNing's balance-sheet strength and operational ratios, see: Breaking Down XiNing Special Steel Co., Ltd. Financial Health: Key Insights for Investors
XiNing Special Steel Co., Ltd. (600117.SS) - Mission Statement
XiNing Special Steel Co., Ltd. (600117.SS) commits to delivering high-performance specialty steels through continuous innovation, operational excellence, and responsible stewardship of resources. The company's mission centers on creating value for customers, shareholders, employees, and communities by advancing material performance while reducing environmental impact. Vision Statement XiNing envisions a future where it leads the industry through innovation:- Investing RMB 200 million in R&D initiatives for 2024 to develop new steel products that enhance strength and reduce weight.
- Expanding the product portfolio and commercial reach through targeted launches and market entry strategies.
- Embedding sustainability across operations to meet ambitious carbon-reduction targets.
| Metric | Target / Result | Timeframe |
|---|---|---|
| R&D investment | RMB 200 million | 2024 |
| New product lines launched | 5 new lines (2023) | 2023 |
| Revenue change attributable to new products | +15% vs. 2022 | 2023 |
| Carbon emissions reduction target | 30% reduction | By 2025 |
| International market expansion | Enter 3 new markets | By end of 2024 |
- Innovation - prioritizing R&D and material science to deliver lighter, stronger steels.
- Quality & Reliability - meeting stringent performance and safety standards for key industries.
- Sustainability - adopting eco-friendly production technologies and renewable energy to lower carbon intensity.
- Customer Focus - co-developing solutions that reduce end-product weight and lifecycle costs.
- Global Ambition - scaling presence in new international markets while maintaining local responsiveness.
- Deployment of eco-friendly production technologies and renewable energy sources to drive the 30% emissions reduction target by 2025.
- R&D programs (RMB 200 million budget for 2024) focused on high-strength, low-weight alloys and processing methods that lower upstream and downstream energy use.
- Performance tracking tied to product launches: 5 new product lines in 2023 delivered a 15% revenue uplift over 2022, demonstrating commercialization capability.
- Planned market entries into three new international markets by end-2024 to diversify revenue and scale sustainable product adoption.
XiNing Special Steel Co., Ltd. (600117.SS) - Vision Statement
XiNing Special Steel envisions becoming a global leader in high-performance special steel by delivering reliable, innovative, and sustainable materials that enable advanced industries while maintaining the highest standards of integrity and stakeholder trust.- Integrity first: transparency and accountability are embedded in governance, operations, and stakeholder engagement.
- Customer-centric innovation: continuous R&D to meet evolving technical requirements across automotive, energy, and engineering sectors.
- Operational excellence: optimize production efficiency and quality to ensure long-term competitiveness.
- Sustainability and responsibility: reduce environmental footprint and promote safe, ethical supply chains.
| Indicator | 2023 Value | Notes |
|---|---|---|
| Internal audit compliance rate | 99% | Strong adherence to internal controls and ethics policies |
| Whistleblower reports (anonymous) | 45 | All investigated, corrective actions implemented where required |
| R&D investment (annual) | RMB 220 million | ~3.2% of annual revenue allocated to product & process innovation |
| New patents filed (2023) | 18 | Focus on alloy development and processing technologies |
| Production capacity (special steel, annual) | 1.5 million tonnes | Flexible lines for high-value grades |
| Employees (year-end) | 7,800 | Skilled workforce across R&D, production, and sales |
- Ethics & compliance framework: documented policies, mandatory training, and a compliance committee overseeing a 99% audit compliance outcome in 2023.
- Whistleblower program: confidential reporting channels; 45 anonymous reports in 2023, all subject to formal investigation and remediation tracking.
- R&D strategy: strategic allocation of RMB 220 million in 2023 toward alloy innovation, heat-treatment processes, and digital metallurgy to improve product performance and reduce cost-per-ton.
- Quality assurance: integrated quality management systems aimed at reducing scrap and rework, improving first-pass yield, and meeting stricter OEM specifications.
- Sustainability initiatives: investments in energy-efficiency upgrades and emissions controls tied to operational KPIs and investor reporting.
| Strategic Goal | Target Metric | 2023 Performance |
|---|---|---|
| Market leadership in high-value steel grades | Increase high-value product mix to 40% of sales | Achieved 36% |
| Innovation throughput | Patents filed & commercialized projects per year | 18 patents filed; 6 commercializations |
| Ethical compliance | Internal audit compliance rate | 99% |
| Operational efficiency | Overall equipment effectiveness (OEE) | 78% |
| Workforce capability | Training hours per employee per year | 28 hours |
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