Tisco’s Profits Will Have A Good Outlook In 2021

In 2020, TISCO overcame the interim operational difficulties caused by the shut-down of blast furnace, and made the operation stable as well as its indicators under control. After uniting with Baowu Steel Group, TISCO’s high-quality transformation has brought an effective result, which made its profits stand at the top in steel sector.

TISCO's Profits in 2021

From January to November, the total crude steel production from TISCO reached 9.67 million tons, which values at ¥15.86 billion, and its total profits reach ¥3.1 billion. It is estimated that the production of crude steel in this year will reach 10.68 million tons, and stainless steel will reach 4.18 million tons. At export aspect, 0.7 million tons of crude steel and 0.05 million tons of stainless steel will be exported. The total estimated profits of this year will be around ¥3.9 billion, which increased by 11.43% than last year. In this year, the total value will increase ¥17.6 billion, reaching ¥83 billion, and its tax will be about ¥2.54 billion.

Under the influences of external and internal adverse factors, the production, export and revenue of TISCO has fallen, but some key indicators like profitability and operational level have went up. And its competitiveness has obviously strengthened. Besides, its total profit has achieved double-digit growth, ranking in the forefront of the steel industry. And its asset-liability ratio continues to decline, with the quality continues to tamp and optimize. Currently, its investment in technology research and development was maintained at a relatively high level: new products such as stainless steel, nickel-based alloy and hand-pulled steel for the fourth-generation nuclear fast neutron reactor increased by 60% compared with previous year, and TISCO has applied more than 60% invention patent.

In the year of 2021,there will produce 15.2 million tons crude steel, in which the stainless steel will be about 6.5 million tons. And TISCO’s profits are estimated to reach ¥108 billion, in which the profit will be about ¥4.27 billion. At the end of 14th Five-year plan, its production is expected to be 25 million tons, with stainless steel production be about 15 million tons. At that time, the revenue will be about ¥200 billion, and profits will reach ¥10 billion. Moreover, the self-supply rate of nickel and chromium will respectively reach over 30% and 50%.

During the 14th Five-year plan, TISCO will take various measures to accelerate the construction of the whole stainless steel industry chain system, which includes: speeding up the integration with China Baowu Steel to realize the benefits and effects of joint reorganization as soon as possible; strongly developing scientific and technological innovation, and putting the efforts on “ultra-special steel”; promoting professional integration, mergence and acquisition to rapidly expand the scale of the stainless steel sector; fully pushing the project construction and strengthening the advantages of high-quality development; accelerating the development of intelligent manufacturing and comprehensively improving operational efficiency and synergies; deeply discovering the potential cost reduction and increasing the efficiency to further improve business performance; advocating to develop the multi-industries with new materials as well as accelerating the process for the change of industrial structure; using key reforms to continuously stimulate the vitality of development; adhering to green development and continuing to enhance the level of environmental performance; firmly upholding the Leadership of the Party, strengthening the build-up for Party, and leading to a high-quality transformation under the high-quality build-ups of Party.