OREANDA-NEWS. February 09, 2012. Taiyuan Iron & Steel (Group) Co., Ltd held its first meeting of the board of this year in Conference Center, Garden International Hotel in the afternoon. The meeting is chaired by the chairman of the board Li Xiaobo, attended by vice chairmen Yang Haigui and Gao Xiangming, directors Liu Fuxing, Hou Jinping, Zhou Yizhou, Wang Xinping, Han Ruiping, Wang Jiguang, Chai Zhiyong and Han Zhentang. Chairman of the board of supervisors Wang Mengchuan, supervisors Wang Hua, Zhang Hui, Geng Ling and Zhang Hengyi attend as nonvoting delegates. TISCO vice president Peng Cungen, as well as the director, vice director and senior manager of TISCO Board Committees, and principals of related departments also attend as nonvoting delegates, reported the press-centre of TISCO.

2011 Work Report and 2012 Work Plan by the general manager Gao Xiangming is heard and discussed during the meeting. 2011 buget execution and 2012 buget plan is discussed in the meeting. It is thought that, in 2011, against the complex and inconstant ecomoic situation, the company management insists in the target set at the beginning of the year, leads the staff to positively face the challenges and overcome the difficulties, so as to ensure the stable operation of production and achieves preferable results: the annual steel output is 9.90 million ton, increase by 3.13% compared with the previous year, among which stainless steel output is 3.02 million ton with 11.03% increment; the revenue is 127 billion yuan with 9.01% increment; profit tax is 4.9 billion yuan with an increment of 16.67%. The board of the director gave full affirmation to the achievement.
The 2012 budget plan (draft) was approved in the meeting. The meeting also approved of 2012 TISCO work target raised by the general manager Gao Xiangming, i.e. 10.84 million ton of steel production, among which 3.1 million ton of stainless steel; 138 billion yuan of sales revenue and 2.5 billion yuan of profit; and above 10% of employee emolument increment.
It is pointed that the year of 2012 is an important year for TISCO’s transformational development, it’s a year of a connecting link between the preceding and the following, it’s a year of tough economy and utmost task. TISCO shall persist in the requirements of “three transformations”, to strengthen its main business, conduct the extension development, diversified development, green development and harmonious development; the company should firmly keep the belief to counterpunch any challenge and unfalteringly move forward, put more effort on construction of transformational key project and production work; focus on safety production, energy saving and emission reduction work; intensify the dynamic evaluation of each sub-company, ensure the annual budget target, and accelerate the “twelfth-five” transformational development.