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Coastal Pipe represents Baoshan drill pipe made by Baosteel, one of the largest most modern steel mills in the world today

Baoshan Iron & Steel Co., Ltd. is a stock company which was set up & registered on February 3, 2000 in accordance with the "Corporate Law" and the "Special Stipulations of the State Council on Overseas Financing and Listing of Stock Company "and with the sole initiation of Shanghai Baosteel Group Corporation and the rectification of State Economic and Trade Commission. Its predecessor is Baoshan Iron & Steel Works, which began its construction by sinking the first pile on December 23rd, 1978.

Scope of Business of the company includes steel smelting, steel processing, power generation, coal, industrial gas production, wharf, warehousing, transportation and the business related with iron and steel, technology development and technology transfer, technical service, and consultancy on technology and management. The main business is the smelting, processing and sales of high-grade steel products and other steel products.

The company is one of the large iron and steel enterprises in China. The crude steel output in 1999 is about 7.5 million tons. After re-organization, the company produces a multiple of high-grade steel products and steel blanks. The main products include the cold rolled sheet and coil, hot rolled plate and coil, seamless steel tube and high-speed wire rod, and steel blank.

The company's products are mainly marketed in China. In 1999, the domestic sales ratio is 82.2%. The rest of the products were sold to Japan, South Korea, Southeast Asian countries, the United States, Europe and other regions.

The company occupies a leading position in the manufacture and sales of cold rolled and hot rolled products and seamless tubes. It is China's largest steel supplier to industries of automobile, household appliances, container, oil and natural gas exploration and pressure vessel. The company is engaged in producing high-grade steel products and carries out the strategy of import substitution to meet the demand for high-grade steels in domestic market.

The company is one of the enterprises of producing the same kind of products at a low cost. It possesses the advanced production technology and equipment and is the most advanced iron and steel complex in China. The company occupies a very favorable geographical position. It is located in Shanghai which is the economic, financial and trade center in China, and in the East China region which is exceptionally developed in industry, commerce, trade, transportation and shipping.

In recent years, China's economy has grown steadily at a high speed, resulting in the ever-increasing strong demand for steels of automobile, household appliances, container, and pressure vessel, and steel for oil and natural gas exploration and pipeline steel. Under the condition of insufficient supply of high-grade steel, the country relies on import to meet the demand. The company, as a leader of high-grade steel producers in China, can meet the competition from overseas iron and steel companies. Compared with foreign competitors, the company has the long-term. competitive advantages, such as low labor cost, low transport cost and short delivery time.