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Illustration in One Picture 2018 Annual Report of Baosteel

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Illustration in One Picture 2018 Annual Report of Baosteel Illustration in one picture 2018 Annual Report of Baosteel Highlights 01 Leading technology 03 Urban steel mill 06 As part of the continuous investment in environmental protection technical innovation, Baoshan base completed The auto lightweight technology was granted the only Grand Prize ANNUAL REPORT ANNUAL Further progress made in business performance integration, overhaul and reformation of No. 1 and No. 2 of Metallurgical Science and Technology Award by China Iron and sintering furnaces Steel Association and the Chinese Society for Metals Net profit attributable to parent company Global premiere of seven products, represented by thin oriented Accelerated the disposal of solid wastes, and commenced (Unit: RMB100 million) silicon and high-strength and high-precision yoke steel the construction of two rotary hearth furnaces with an annual processing capacity of 250,000 tons The first company in China to master the production technology of pipeline steel with the largest caliber, the thickest pipe wall and of the highest grade Earnings before interest, tax, Broke the monopoly of foreign steel mills on low-temperature depreciation and amortization steel with 460LF – TM steel for super LPG vessels (Unit: RMB100 million) To step up online monitoring, Baoshan base added online flue gas and water quality monitoring facilities Ahead in service 04 Dongshan base was awarded the honorary titles of “National Weighted average Advanced Metallurgical Unit in Afforestation” and “Cleaner net return on assets Created the intelligent supply chain of auto sheet Production and Eco-Friendly Enterprise in Chinese Iron & Steel Industry” by China Iron and Steel Association Explored digital marketing and transformation, and completed 2018 popularization among pilot users Credit rating Set up 120 marketing outlets 07 (including 3 overseas processing centers) Basic formation of the domestic layout Moody's and S&P raised Baosteel's ratings from Continuously accumulating return to shareholders Baa1 and BBB+ to A3 and A- respectively, and the rating outlook remained “stable” Operational cash flow per share Excellent Supplier Excellent Supplier (Excluding Finance Co.) Changan Ford Dongfeng Honda (Unit: RMB) Baosteel has maintained the highest credit rating for global comprehensive iron and steel enterprises Top Ten Suppliers Outstanding Quality Guangzhou Automobile SAIC Motor Group Motor Co., Ltd. External recognition Basic earnings per share 08 (Unit: RMB) Special Management Practice Award Excellent Supplier Excellent Supplier in the 40 Years of Reform and Opening-up SAIC-Volkswagen Dongfeng Renault Harvard Business Review & Ram Charan Management Practice Award Special Contribution Excellent Supplier Top 50 Boards of Directors Dividend per share FAW Toyota Geely in China for the Year of 2018 (Unit: RMB) Fortune & Aon Hewitt Excellent Supplier Gold ESG50 Index for the Year of 2018 Chery, Jaguar, Rubik's Cube Prize Land Rover Haier Group Caixin & SynTao Green Finance Cost reform Model Enterprise of Capital Operation 02 Intelligent Manufacturing among Chinese Listed Companies 05 Securities Times Cost reduction compared with 2017 The first multi-blast furnace control center in the world was put into operation, and four RMB3.855 billion blast furnaces at Baoshan base are run and managed in a concentrated way Business objectives for 2019 The largest unmanned steel warehouse with the highest level of intelligentization was put Manufacturing cost In terms of business performance into service, covering an area of over 60,000 To remain No. 1 in domestic industry RMB 3.255 square meters Financial expense billion RMB 515 EBITDA challenge per ton of steel million To be ranked among the world’s top 3 To realize a month-on-month reduction of cost by over Administration expense RMB 247 RMB2 billion million Selling expense To take up 50% RMB 36 of the cold-rolled auto sheet market share million Cost of raw material purchase and logistics To increase the efficiency of regular employees by over 8% -RMB198 One-key steelmaking and fully automated steel million tapping have been realized for No. 4 converter, breaking through the key bottleneck faced by large-scale To realize stage goals converters in realizing “intelligent steelmaking” in the new plan and major projects Important Notice (I) The Board of Directors and the Board of Supervisors of Baoshan Iron & Steel Co., Ltd. (hereinafter “the Company”), along with their directors, supervisors and senior executives, hereby guarantee that the Annual Report is free from false statement, misleading information or grave material omission, and assume relevant separate and joint responsibilities in regard to the truth, the accuracy and the integrity of the contents of the Report. (II) Information of Absent Directors Position of absent director Name of absent director Causes of absence of director Name of entrusted person Director Wu Xiaodi Work Zhang Jingang (III) Ernst & Young Huaming Certified Public Accountants (special general partnership) gave standard unqualified audit report for the Company. (IV) Zou Jixin, Chairman of the Company, Wu Kunzong, CFO in charge of the accounting affairs, and Wang Juan, Director of the Finance Department, attest to the truthfulness, correctness and completeness of the financial statements in this Report. (V) Proposed Profit Appropriation Plan and Capitalizing of Reverses Plan for the Reporting Period Reviewed by the Board of Directors According to the Company’s policy that the annual divided distribution should not be lower than 50% of the net profit in the consolidated statements attributable to the shareholders of the parent company audited in the current year, and the cash dividend per share should not be less than RMB 0.49 (including tax) according to the calculation. Whereas the Company always attaches importance to rewarding shareholders and adheres to the long-term cash dividend policy, the Company intends to allot the cash dividend at RMB 0.50 per share (including tax), total cash dividend to be distributed was RMB 11,133,957,562.50 (incl.tax), accounting for 51.63% of the net profit in the consolidated statements attributable to the shareholders of the parent company based on 22,267,915,125 shares in total at the end of 2018, and the total amount of the actual dividend is calculated based on the share capital registered on the equity registration date confirmed in the dividend payout announcement. (VI) Risk Disclosure on forward-looking Statements √ Applicable □ Not applicable The proactive future plans and developing strategies in this Report do not constitute actual promises to investors. Investors are kindly reminded that investment involves risks. (VII) Was capital found in the Company to be occupied by the controlling shareholder and its related parties? None (VIII) Was guarantee found in the Company to be provided in any manner that is against the stipulated decision-making procedures? None (IX) Major Risk Warning China’s steel industry has entered a long period of capacity cut and structural adjustment. The contradictions and problems in the industry are more prominent. Ecological civilization construction, material demand upgrading, and industrial service transformation have put forward higher requirements for the development of the steel industry. With the continuous deepening of the supply-side structural reform and the publication of more stringent environmental protection measures, the steel supply quantity has generally declined, the steel industry has shown a downward trend in demand and production capacity, and the overcapacity situation is difficult to reverse in the short term. (X) Others □ Applicable √ Inapplicable 6 7 Section I Definitions Table of Contents Section I Definitions 7 I. Definitions The following terms in this report shall have the meanings as shown below unless the context requires otherwise: Section II Company Profile and Financial Highlights 8 commonly-used words definition Section III Summary of the Company’s Business 11 CSRC Refers to China Securities Regulatory Commission Section IV Discussion and Analysis about Operation 16 SSE Refers to Shanghai Stock Exchange China BAOWU Steel Group Co., Ltd., formerly Baosteel Group Co., Ltd. (or Section V Important Matters 30 China BAOWU, BAOWU Group, Group Company Refers to “Baosteel Group”) Section VI Change of Common Shares and Shareholders 53 EVI Refers to Early Vendor Involvement An alloy of iron and carbon. Generally speaking, its carbon content Section VII Preferred Stock 58 between 0.04% and 2%, while most of it less than 1.4%. Steel with no Carbon steel Refers to other alloy elements but iron, carbon, silicon, manganese, sulphur and phosphorus as well as silicon content no more than 0.4%, manganese no Section VIII Directors, Supervisors, Senior Executives and Employees 59 more than 0.8%. Section IX Corporate Governance 69 Silicon steel with certain rules and directions in crystal arrangement. Silicon content usually about 3%, low iron loss and high magnetic induction, Oriented silicon steel Refers to with nominal thickness of 0.20mm, 0.23mm, 0.27mm, 0.30mm, 0.35mm Section X Corporate Bond 72 etc. Used in various transformers and others aspects for electric power industry. Section XI Financial Report 74 Baoshan Base, Qingshan Base, Dongshan Base and Meishan Base. Baoshan Base refers to the manufacturing base (located in Baoshan District, Shanghai) of Baoshan Iron & Steel Co., Ltd. Qingshan Base Four major manufacturing bases Refers to Section XII Catalog of Documents Available for Inspection 195 refers
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