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Shougang Group Finance Co., Ltd.

Shougang Group Finance Co., Ltd., (“Shougang Finance Corporation”) was jointly funded and established by Shougang Group Co., Ltd. and Beijing Shougang Construction Investment Co., Ltd. with the approval of the China Banking and Insurance Regulatory Commission. The company has registered capital of RMB 10 billion, of which Shougang Group Co., Ltd. accounts for 80% and Beijing Shougang Construction Investment Co., Ltd. accounts for 20%. The company is a non-bank financial institution with the status of an independent legal person. It is located at Building 1, Courtyard 36, Gucheng Road, Shijingshan District.

The Shougang Finance Corporation is guided, supervised and audited in its business by the China Banking and Insurance Regulatory Commission and People’s Bank of China. According to the requirements of financial supervision, the company has set up a board of shareholders, board of directors and board of supervisors, implemented the general manager responsibility system under the leadership of the board of directors, and established a corporate governance structure of “three committees and one layer” which combines the risk control committee, audit committee, credit review committee and management layer into an internal control system. It also has its Financial Management Department, Risk Management Department, Financial Market Department and another five functional departments.

Shougang Finance mainly deals in the following domestic and foreign currency businesses: handling financial and financing consultancy, credit verification and related consulting and agency business for member units; assisting member units in realizing the receipt and payment of transaction funds; providing guarantees for member units; handling entrusted loans between member units; handling the acceptance and discount of bills for member units; handling the internal transfer and settlement of accounts between member units and designing the corresponding settlement and liquidation schemes; absorbing deposits from member units; handling loans and finance leases for member units; underwriting the corporate bonds of member units; and engaging in interbank borrowing.

By the end of December 2021, the Shougang Finance Corporation had total assets of RMB 56.988 billion, ranking 37th among the 256 finance companies in China and 1st among finance companies in the steel industry for many consecutive years. Since its establishment more than six years ago, it has won “Excellent Unit of Industry Statistics in 2018” issued by the China National Association of Finance Companies; “Excellent Financial Company in 2018” at the 14th China CFO Conference; “Best Cash Management Award of the Year” at the China CFO Summit; “Excellent Enterprise in the Iron and Steel Industry and Finance in 2020” issued by the China Steel Development Research Institute; “Grade A for Investigation and Statistics Work” issued by the People’s Bank of China in 2020; “Excellent Unit in Data Statistics” issued by the China National Association of Finance Companies in 2021, etc.

During the period of the 14th Five-year Plan, the Shougang Finance Corporation will continue to adhere to its goals of “Relying on the Group, based in services, boosting transformation, playing a leading role, operating in compliance and developing steadily”. Guaranteed by its refined comprehensive risk management system, supported by sophisticated data and finance technology, and guided by precise and excellent services, it builds a financial ecosystem for the iron and steel industry based around its main business, and strives to build Version 2.0 of the Group’s “four platforms” for fund collection, fund settlement, fund monitoring and financial services, thereby firmly undertaking to serve the Group and real economy, and improve its service industry level in an all-round way. In order to meet the needs of liquidity, safety and the improvement of the quality and efficiency of its member units, it taps potential, creates profits, increases efficiency, continuously improves external operation capability and profitability, promotes the deep integration of finance and industry, and propels the Shougang Group to deepen reform and realize transformative development.


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