Wuhan Iron and Steel Group

The predecessor of WISCO Group Co., Ltd. (abbreviated as WISCO Group) is Wuhan Iron and Steel Company, one of the first super-large iron and steel complexes built after the founding of New China. Located in the eastern suburbs of Wuhan City, Hubei Province, on the south bank of the Yangtze River, its construction began in 1955, and it was completed and put into operation on September 13, 1958. It is an important production base for high-quality steel plates in China. On November 21, 1992, Wuhan Iron and Steel Company was renamed Wuhan Iron and Steel (Group) Company, and an enterprise group with Wuhan Iron and Steel (Group) Company as its core was established. On September 14, 2016, the State-owned Assets Supervision and Administration Commission of the State Council issued the Notice on the Reorganization of Baosteel Group Corporation and Wuhan Iron and Steel (Group) Company, deciding to implement joint reorganization of Baosteel Group Corporation and Wuhan Iron and Steel (Group) Company. Baosteel Group Corporation was renamed China Baowu Steel Group Corporation Limited, becoming the parent company after the reorganization. Wuhan Iron and Steel (Group) Company was wholly transferred without compensation and became its wholly-owned subsidiary. On November 15, 2017, WISCO Group Co., Ltd. completed industrial and commercial registration, restructuring from an enterprise owned by the whole people into a limited liability company. In 2018, WISCO Group achieved operating revenue of 38.7 billion yuan on an equity basis and operating profit of 3.9 billion yuan. There were 20,771 registered employees and 11,831 on-duty employees; it had 2 subsidiaries, namely Industrial Company and Beihu Economic Development Company, as well as 8 collective enterprises under WISCO Resources, with an additional 15,874 registered employees, including 13,330 on-duty employees.

In 2018, WISCO Group reviewed the current status, positioning, development goals, development strategies and paths of its subordinate industries. During the year, WISCO Group reorganized its main business composition and proposed that in the next three years, WISCO Group would focus on urban new industries, with "from factory area to park to urban area, from resources to assets to capital" as the main line of development, accelerate the development of real estate projects, and speed up the construction of urban new industry system capabilities.