Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) Bundle
Founded on July 1, 2000, Tianjin Youfa Steel Pipe Group has grown from a regional manufacturer to a listed industrial heavyweight-reaching a production milestone of 16 million tons in 2018 (with sales of $160 million that year), exporting 300,000 tons in 2022, operating six production bases and 293 production lines across 13 factories staffed by over 9,000 employees, and securing a December 2020 IPO on the Shanghai main board; yet recent financials show industry pressure with 54.822 billion yuan in 2024 revenue and a net profit attributable to shareholders of 0.425 billion yuan in 2024, while 1H 2025 delivered 24.888 billion yuan in revenue and a rebound in net income to 287 million yuan (up 160.36% year‑on‑year), facts that illuminate Youfa's scale, resilience and the stakes behind its ranking among China's top enterprises and Tianjin's manufacturing elite-read on to explore the company's history, ownership, mission, operations and monetization in detail.
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): Intro
History Tianjin You Fa Steel Pipe Group Co., Ltd. was established on July 1, 2000, in Tianjin, China, entering the steel pipe manufacturing sector. Key historical milestones and scale metrics:- 2000 - Company founded in Tianjin.
- 2012 - Achieved production volume of 6.65 million tons of various steel pipes.
- 2018 - Production reached 16 million tons; reported sales of approximately $160 million.
- December 2020 - Successfully listed on the main board of the Shanghai Stock Exchange (ticker: 601686.SS).
- 2022 - Exported about 300,000 tons of steel products to international markets.
- 2025 - Ranked 15th among the top 100 enterprises in Tianjin and 7th among the top 100 manufacturing enterprises in Tianjin.
- Publicly listed entity on the Shanghai Stock Exchange (601686.SS) since December 2020.
- Shareholder base comprises institutional investors, retail investors and corporate/group shareholders following the IPO; listing increased transparency and access to capital markets.
- Governance follows PRC-listed company rules with a board of directors and supervisory board structure typical of Chinese A-share companies.
- To be a leading integrated steel pipe manufacturer delivering large-scale, cost-efficient pipe products for domestic infrastructure, energy and industrial customers.
- Focus on scaling production capacity, improving product quality and expanding export channels to capture both domestic and international demand.
- Raw material sourcing: steel billets/coils procured from domestic mills and suppliers.
- Manufacturing: continuous pipe mills, forming, welding, heat treatment and finishing lines enabling high-volume production (millions of tons annually).
- Quality & certification: metallurgical testing and product certifications to meet oil/gas, construction and industrial standards for domestic and export customers.
- Logistics & distribution: regional sales networks, port access for exports and trading channels for domestic industrial clients.
- Primary revenue - sale of steel pipes (various specifications for oil & gas, water/gas conveyance, structural use).
- Secondary revenue - value-added processing, coating, testing, and trading services.
- Export sales - direct shipments and distributor agreements; exported ~300,000 tons in 2022 boosting foreign-currency sales.
- Economies of scale - large production volumes (6.65 million tons in 2012; 16 million tons in 2018) lower unit costs and improve gross margin potential.
| Metric | Value / Year |
|---|---|
| Founding date | July 1, 2000 |
| Production volume | 6.65 million tons (2012); 16 million tons (2018) |
| Sales | Approximately $160 million (2018) |
| Stock exchange listing | Shanghai Stock Exchange, ticker 601686.SS (Dec 2020) |
| Exports | ~300,000 tons (2022) |
| Regional rankings | 15th among top 100 enterprises in Tianjin; 7th among top 100 manufacturing enterprises in Tianjin (2025) |
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): History
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) traces its rise from a regional steel pipe manufacturer to a nationally recognized industrial group, expanding production capacity and market reach through strategic investment, diversification of product lines, and successive industry recognitions.- Founded and expanded operations across six production bases: Tianjin, Tangshan, Handan, Hancheng, Liyang, and Huludao.
- Maintained top-tier rankings in national and regional lists since 2006.
- Recognized repeatedly as a 'Tianjin Famous Brand Product' by the Tianjin Municipal Government.
| Metric | Detail / Value |
|---|---|
| Listed ticker | 601686.SS |
| Private ownership | Privately held enterprise; detailed shareholding not publicly disclosed |
| Production bases | Tianjin; Tangshan; Handan; Hancheng; Liyang; Huludao |
| Top 500 Chinese enterprises (consecutive years) | 17 years (since 2006) |
| 2025 rank - Top 500 private enterprises in China | 224th |
| 2025 rank - Top 100 enterprises in Tianjin | 15th |
| 2025 rank - Top 100 manufacturing enterprises in Tianjin | 7th |
- Youfa Group operates as a privately held enterprise; specific ownership stakes are not publicly disclosed, emphasizing operational control and strategic reinvestment.
- Corporate governance focuses on efficiency, steady capital allocation to capacity expansion across multiple production bases, and brand-building.
- Deliver high-quality steel pipe products for oil & gas, water supply, construction, and industrial applications.
- Maintain industry leadership via technological upgrades, scale efficiencies, and consistent product-brand recognition (e.g., Tianjin Famous Brand Product).
- Core business: manufacture and sale of welded and seamless steel pipes across residential, municipal, energy, and industrial sectors.
- Revenue drivers: large-scale production at six bases; long-term supply contracts with construction, energy, and infrastructure clients; domestic and selective export sales.
- Margin levers: economies of scale across multiple plants, vertical integration in raw-material procurement and processing, product mix toward higher-margin specialty pipes.
- Capital allocation: reinvestment in capacity expansion and technology to sustain presence among China's top manufacturing enterprises.
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): Ownership Structure
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) positions quality and brand reputation at the core of its strategy, with long-standing recognition by local authorities and consecutive national rankings that reflect scale and consistency.- Mission and values: committed to producing high-quality steel pipe products with quality as a cornerstone; customer-centric product development; continuous improvement and environmental compliance.
- Brand recognition: designated a 'Tianjin Famous Brand Product' by the Tianjin Municipal Government for many consecutive years, reinforcing regional market trust.
- National and regional rankings (2025): ranked 224th among the top 500 private enterprises in China; listed among the top 500 Chinese enterprises and top 500 Chinese manufacturing enterprises for 17 consecutive years since 2006; ranked 15th among the top 100 enterprises in Tianjin and 7th among the top 100 manufacturing enterprises in Tianjin.
- Controlling shareholder: Youfa Group / Tianjin Youfa Holding (majority promoter) - long-term strategic control and board influence.
- Institutional investors and mutual funds: significant participation in the A-share free float.
- Public shareholders: active secondary market liquidity on the Shanghai Stock Exchange (601686.SS).
| Metric | 2024 (reported/approx.) | 2025 Ranking / Note |
|---|---|---|
| Revenue (RMB) | 18.3 billion | - |
| Net profit attributable to shareholders (RMB) | 450 million | - |
| Total assets (RMB) | 25.6 billion | - |
| Employees | ≈8,200 | - |
| 2025 private-enterprise ranking | 224 | Top 500 private enterprises in China |
| Consecutive Top-500 manufacturing presence | 17 years (since 2006) | Top 500 Chinese enterprises & manufacturing enterprises |
| 2025 Tianjin rankings | 15th (top 100 enterprises); 7th (top 100 manufacturing) | Regional economic significance |
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): Mission and Values
History and Ownership Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) is a long-standing Chinese steel pipe manufacturer listed on the Shanghai Stock Exchange. Founded and developed through decades of industrial expansion in northern China, the company evolved from regional steel processing operations into a nationally recognized integrated pipe producer. As a publicly traded company, its shareholder base includes institutional investors, retail investors and corporate stakeholders registered on the exchange, with corporate governance aligned to SSE disclosure and reporting requirements. How It Works Youfa Group's operating model combines large-scale manufacturing, integrated upstream and downstream capabilities, and diversified product lines to serve oil & gas, petrochemical, construction, municipal, and industrial markets.- Production footprint: six production bases in Tianjin, Tangshan, Handan, Hancheng, Liyang, and Huludao.
- Manufacturing scale: 13 factories operating 293 production lines for seamless volume production and product variety.
- Workforce: over 9,000 highly skilled employees across R&D, production, quality control and sales.
- Quality & brand recognition: repeatedly honored as a 'Tianjin Famous Brand Product' by the Tianjin Municipal Government.
- Sales of steel pipes and tubular products: seamless, welded, casing, tubing, line pipe and specialty profiles for energy, infrastructure and construction sectors.
- Customized processing and downstream services: heat treatment, threading, coating, inspection and testing add-margin services sold to OEMs and contractors.
- Project contracts and long-term supply agreements: contracts with energy and municipal projects provide recurring demand and working-capital visibility.
- Export sales: international shipments to markets requiring standardized or custom tubular products.
| Metric | Value |
|---|---|
| Production bases | 6 (Tianjin, Tangshan, Handan, Hancheng, Liyang, Huludao) |
| Factories | 13 |
| Production lines | 293 |
| Employees | Over 9,000 |
| Years in top national lists | Top 500 Chinese enterprises & Top 500 manufacturing enterprises - 17 consecutive years (since 2006) |
| 2025 national private ranking | 224th among Top 500 private enterprises in China (2025) |
| 2025 Tianjin regional rankings | 15th among Top 100 enterprises in Tianjin; 7th among Top 100 manufacturing enterprises in Tianjin (2025) |
- Scale: hundreds of production lines and multiple bases enable economies of scale and flexible allocation of capacity to meet demand swings.
- Technical competency: extensive in-house processing and testing capabilities support higher-value, customized products.
- Brand and regional strength: long-term recognition by Tianjin authorities and consistent inclusion in national rankings support procurement credibility and market access.
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): How It Works
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) operates as an integrated steel pipe manufacturer and trader, combining raw-material procurement, steelmaking/rolling, pipe-forming, finishing (including galvanizing and stainless processing), and distribution. The business model centers on large-scale volume production, vertical integration to control costs and quality, and diversified product mix to serve construction, oil & gas, mechanical, and municipal infrastructure markets.- Primary product lines: ERW (electric resistance welded) steel pipes, spiral welded pipes, hot-dip galvanized steel pipes, stainless steel pipes.
- Sales channels: direct sales to major contractors and distributors, export shipments, project-based contracts for infrastructure and energy sectors.
- Value capture: margin preservation via downstream processing (galvanizing/stainless finishing), scale advantages in raw-material purchasing, and long-term supply contracts.
| Metric | 2024 | YoY Change (2024) | H1 2025 | YoY Change (H1 2025) |
|---|---|---|---|---|
| Revenue (CNY) | 54.822 billion | -10.01% | 24.888 billion | -5.81% |
| Net profit attributable to shareholders (CNY) | 0.425 billion | -25.46% | 0.287 billion | +160.36% |
| Net profit excluding non-recurring items (CNY) | 0.32 billion | -36.32% | - | - |
| Pipe sales volume (tons) | 13.4734 million | -0.90% | - | - |
| Full-process output (tons) | 20.0949 million | -0.93% | - | - |
- How it makes money: sale of finished pipes by product and specification, value-added finishing services (galvanizing, stainless treatment), project contracting for large infrastructure or energy pipelines, and export sales.
- Operational levers: capacity utilization across 20+ full-process lines, product-mix shifts toward higher-margin galvanized/stainless products, procurement hedging on steel raw materials, and logistics/distribution efficiency to reduce working capital.
- Financial dynamics observed: 2024 showed significant revenue scale (CNY 54.822B) but margin pressure with net profit declines; H1 2025 revenue remained down while net profit attributable to shareholders improved sharply, indicating either cost control, higher-margin shipments, or one-off items improving first-half profitability.
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS): How It Makes Money
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (601686.SS) is a vertically integrated steel pipe manufacturer whose revenues derive from manufacturing, processing and trading of steel pipes, seamless and welded products, and downstream services (coating, heat treatment, cutting, logistics). Key revenue drivers are large-scale orders for oil & gas, petrochemical, construction, and boiler/pressure vessel markets, plus export sales.- Core segments: seamless steel pipe production, welded pipe production, pipe fittings and processing services.
- Customers: energy (oil & gas), construction, shipbuilding, machinery and infrastructure contractors-both domestic and international.
- Value-added services: precision processing, surface treatments, testing & certification, and logistics that boost margins beyond raw-steel sales.
- Listed among China's top 500 enterprises and top 500 manufacturing enterprises for 17 consecutive years since 2006, indicating long-term scale and reputation.
- 2025 regional rankings: 15th among Tianjin's top 100 enterprises and 7th among Tianjin's top 100 manufacturing enterprises.
- 2025 national private-sector ranking: 224th among China's top 500 private enterprises.
| Period | Revenue (billion CNY) | Net income attributable to shareholders (million CNY) | YoY change (revenue) | YoY change (net income) |
|---|---|---|---|---|
| 1H 2025 | 24.888 | 287 | -5.81% | +160.36% |
| Full Year 2024 | - | 425 | - | -25.46% vs 2023 |
| Full Year 2024 (net profit w/o return to mother) | - | 320 | - | -36.32% vs 2023 |
- Margin profile depends on steel feedstock costs and capacity utilization; downstream processing and specialty products command higher gross margins.
- Export recovery and infrastructure stimulus are primary levers to restore volume growth; continuing operational efficiency and product mix upgrades improve profitability.
- Working capital intensity is high due to raw material purchases and inventory; financing and receivable management affect free cash flow.
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