OREANDA-NEWS. February 21, 2011. In 2010, Baosteel Metals achieved rapid growth in improved management efficiency and greatly enhanced operating performance through largely expanding core businesses and strengthening ten capacity building. Total year operating revenue and profits exceeded ten billion and 300 million, a 47% increase and 2.4 times that of 2009. Enterprise core competitiveness in strategy, culture and integrated process development emerged in preliminary shape, reported the press-centre of Baosteel.

In 2010, due to remaining effects of global financial crises, Baosteel Metals met with formidable challenges in manufacture management reflected chiefly by intensified competition in market of core products, dramatically rising raw material prices and pressing demands for cost reduction by users. It also encountered great pressure in financing 13 newly built key projects of Wuhan Can-making, etc. Through head-on assaulting, clearly understanding and emphasizing works of pinnacles, it actively developed core businesses and markets, enhanced engineering project management, innovated financing channel and ensured capital supply.  

Baosteel Metals further focused on ten capacity building of management innovation, product technological innovation, management innovation standardization, investment decision-making and project construction, financial security and value management, supply chain operation, plant management, talent growth, environment management and sustainable development, culture promotion and assimilation.

For management innovation, it ensured rapid growth in profitability and capitalization through model development, purchase, merger, acquisition and integration, with a series of successful "blue ocean" projects related to core businesses; for product technological innovation, it accomplished BES research management system coverage with accumulated 0.91% of R&D input, 20.04% sales of new product, 22 patent applications and 19 million by science and technological policy facilitation; for supply chain operation, it further improved marketing and sales management, highlighted service value, coordinated manufacture, supply, sales, research, enhanced product and customer development. To strengthen plant management, it expanded star rating appraisal to include 15 subsidiary companies and 70 plant sites. All these sites received three stars and above ratings through on-site improvement.