On August 10^th, “Fortune” Magazine released the list of the World’s Top 500 Companies in 2020, and Shagang was listed on the listed again, ranking 351 with its business revenue of 36488.3 million US dollars in 2019. It has been one of the World’s Top 500 Companies for 12 consecutive years.

The past year, Shagang Group, in face of the complicated international situation, always maintain concentration, keep development and innovation, at a favorable time when the state is steadily advancing supply-side structural reform, focusing on reducing excess steel production capacity, and the steel market is stable and improving, close around the requirement of “high quality, safe and enviromental protection, foundation management, reform and innovation”, and make every effort to do these tasks well, so as make group production and operation to maintain good posture.In 2019, the iron, steel androlled products output of the Group reached 33.25 million tons, 41.1 million tons and 40.52 million tons respectively, up 4.5%, 1.1% and 2.5% over the previous year. It achieved 252.1 billion yuan in operating revenue and 17 billion yuan in profits and taxes, and continued to rank among the top performers in terms of profit performance.

The year 2020 will mark the end of the 13th Five-Year Plan for building a moderately prosperous society in all respects, the 14th five-year Plan, and a crucial year for Shagang to build on past achievements. At present, the global coVID-19 epidemic and the world economic situation are grim and complex, and the steel industry is facing unprecedented challenges. We will promote safety and environmental protection, cost reduction and efficiency increase, production organization, product filing, business and trade, technological upgrading of projects, innovative management, and team building. We will further create and strengthen the company's competitive advantages, fully accomplish all tasks and objectives of the Ninth Five-year Plan, contribute to the "double victory" of epidemic prevention and control, economic and social development, and complete the building of a moderately prosperous society in all respects, and write a more splendid chapter of Shagang in the new era.

It is understood that there are 12 steel enterprises in the world, 7 Chinese steel enterprises and Shagang ranks the 4th in this world top 500 list. This year's Fortune 500 hit a record $33 trillion in revenue, close to the combined GDP of China and the United States. The threshold for entry -- the minimum sales revenue -- also rose from $24.8bn to $25.4bn.