Maanshan Iron & Steel Company Limited (the “Company”) grew out of the Maanshan Iron Factory founded in 1953 and renamed Maanshan Iron & Steel Company in 1958. In September 1993, Maanshan Iron & Steel Company was divided into Maanshan Magang Corporation (now Magang (Group) Holding Co., Ltd., or “Magang Group”) and Maanshan Iron & Steel Company Limited. In October of the same year, the Company issued H shares, which were listed on the Stock Exchange of Hong Kong Limited on November 3. It issued A shares in November and they were listed in tranches on the Shanghai Stock Exchange in January, April and September of the following year. Following the joint restructuring of China Baowu and Magang Group on September 19, 2019, Magang Group became a subsidiary controlled by China Baowu and China Baowu became the indirect controlling shareholder of the Company.

As one of the largest iron and steel producers and sellers in a single production base in China in terms of production capacity, the Company’s major businesses are production and sales of iron and steel products; the main production processes include iron making, steel making, steel rolling, etc. Its major products are steel, which is composed of four product series of “special steel, wheels and axles, section steel and plates”.

Special steel series: Major products include continuous casting round billet, special steel bar and industrial wire rod. Continuous casting round billet is mainly used in wheel, axle, wind power, energy and other industries. Special steel bar is mainly used in axle for rail transit, bearing gear for machinery, gear for automobile, bearing, spring, etc. Industrial wire rod is mainly used for high carbon steel, cold heading steel, spring steel, bearing steel, excellent carbon steel, etc. for automobile machinery.

Wheels and axles series: Major products include train wheels, axles, wheelsets and rings, which are widely used in railway transport, urban rail transit, port machinery, aerospace industry, and so forth.

Section steel series: Major products include section steel and wire rod. Section steel is mostly used in construction, steel structures, machinery manufacturing and the construction of petroleum drilling platforms and railways. Wire rods are mainly used in infrastructure and real estate construction.

Plates series: Major products include hot and cold-rolled coils, galvanized plates, coil coating plates and electrical steel. Hot-rolled coils are mostly used in the construction, automobile, bridge building, machinery businesses and petroleum transportation, while cold-rolled coils are used in high-grade light industries, household appliances, and medium and high-grade production of automobile parts. Galvanized plates are positioned to be used as automobile plates, household appliances plates, high-grade construction plates, and plates for businesses like packaging and utensil manufacturing. Coil-coating plates can be used in both interior and exterior of buildings, household appliances and steel windows. Electrical steel is mainly used in household appliances and new energy vehicles.