Nanjing Steel is an industry-leading, highly efficient and fully integrated steel complex with an annual production capacity of over 10 million tonnes. The company is a global leader in the production of medium and heavy steel plates and a competitive producer of long steel products in China. Focusing on the opportunities presented by the upgrade of Chinese manufacturing and import substitution, Nanjing Steel primarily produces specialised plates and long steel products. The company emphasises research and development to promote steel materials that exhibit high strength, high toughness, high fatigue resistance, high wear resistance, corrosion resistance and excellent weldability. These materials are widely used in various industries, including oil and gas equipment, renewable energy, shipbuilding and marine engineering, automotive bearings and springs, construction machinery and rail transport, as well as high-rise bridge structures. Nanjing Steel provides solutions for key national projects and the upgrading of high-end manufacturing industries.
In 2024, the steel industry continued to face downward pressure. Guided by the principles of “excellence” and “distinction” and tasked with economic efficiency, Nanjing Steel focused on building an industrial chain ecosystem that facilitates mutual growth between its core steel business and emerging strategic ventures. The company optimised its product structure, enhancing lean production practices, developing an agile management system and identifying cost reduction and efficiency improvement opportunities. The company is also advancing ecological development in its industrial chains, intelligent manufacturing services and green low-carbon initiatives. As a result, Nanjing Steel’s business performance maintained its leading position among the listed companies in the steel industry throughout the year. 
Business highlights
Stable business growth. Nanjing Steel established a unique competitive edge in high-efficiency production and low-cost intelligent manufacturing. Leveraging its industry-leading intelligent manufacturing and premium steel research and development systems, the company continuously enhances production efficiency and product competitiveness. The company managed to achieve stable business growth for three consecutive years against industry downturns, recording positive key financial metrics such as return on equity, earnings per share and gearing ratio. Nanjing Steel accelerated its integration into CITIC and achieved prominent synergy. The company has joined efforts with CITIC Pacific Special Steel to launch a 100-day action plan that aims to boost efficiency.
Leading position remains solid in advantageous sectors. Nanjing Steel continued to strengthen its presence in key sectors, including oil and gas equipment, energy pipelines and marine engineering. Following its exclusive supply for the first domestically produced luxury cruise ship, Adora Magic City, the company became the sole supplier for the second domestically produced luxury cruise ship, Adora Flora City. Nanjing Steel also provided materials for the world’s most environmentally friendly Aurora-class transport vessel, which commenced trial operation. After successfully certifying its acid-resistant pipelines, Nanjing Steel once again received certification from Saudi Aramco for its acid-resistant container steel. Meanwhile, sales of its core advanced steel materials continued to grow, reaching 2.6149 million tonnes in 2024, accounting for 28.03% of total steel product sales. The gross profit margin was 17.17%, a year-on-year increase of 1.14 percentage points.
International layout
Nanjing Steel is actively accelerating its international business development and globalisation efforts, with the successful installation of 10 coking coal ovens for its first overseas industrial project, boasting an annual production capacity of 6.5 million tonnes of coking coal. Additionally, the company’s annual export volume surpassed 1.5 million tonnes.
Technological innovation
Promoting high-end technological research. Nanjing Steel focused on high-end product development, promoting product innovation and technological breakthroughs. The company’s ultra-low-temperature steel and ultra-high-strength wear-resistant steel were recognised as national "champion products" in manufacturing. As a key player in the southern Jiangsu specialty steel material group, Nanjing Steel became a part of the national advanced manufacturing industry cluster, contributing to the resilient development of the industry.
Strengthening critical technology reserves. The project “Nanjing Steel Comprehensive Digital Production Operations and Key Technology Innovations in Intelligent Manufacturing” received the Special Prize at the Metallurgical Science and Technology Awards. Furthermore, Nanjing Steel participated in two initiatives—"Green and Clean Steelmaking Technology and Application based on Carbon Dioxide Utilisation” and “Functional and Green Design and Preparation of Refractory Materials Supporting Green Steel Manufacturing”, winning the Second Prize of the National Science and Technology Progress Awards. Nanjing Steel also filed and obtained recognition for over 1,000 patents and proprietary technologies, increasing the share of invention patents from 63% to 70%. The company also participated for the first time in the formulation and revision of two international standards, marking a significant achievement. In the past year, the company completed 22 evaluations of new products and technologies, all fulfilling or exceeding international advanced standards.
Reinforcing strategies in digitalisation. The company continued to advance the Smart Nanjing Steel strategy to digitalise all business operations and operationalise all digital systems. By emphasising “AI+” and “Data Element×” strategies, the company fostered new quality productive forces. The company initiated a dedicated action plan with a focus on versatile AI applications, deepening synergies between IT and business development whilst integrating AI into steel industry applications. This effort positioned Nanjing Steel as one of the first public companies in the country to formally recognise digital assets on its balance sheet. The company also won second place in the national finals of the “Data Element×” competition and was selected as one of the first excellence-level intelligent factories in the country.
Green development
Nanjing Steel is devoted to acting on ESG principles, implementing ultra-low emission transformation throughout the production process targeting organised and fugitive emissions and adopting clean logistics. The company received again the A-level environmental performance rating for its long-process steelmaking operations in Jiangsu Province and was among the first provincial pilot enterprises for carbon peak and carbon neutrality initiatives. The company made it debut on the Fortune China ESG Influence List and received the Golden Responsibility Award in the 2024 Sina Finance Annual Sustainability Awards. It was also recognised by the Chinese Association for Public Companies for two consecutive years as having the Best Practices in Sustainable Development. The company has also been rated by Wind ESG as one of the Top 100 Listed Companies with ESG Best Practices in China for three consecutive years.
Nanjing Steel Intelligent Operations Centre
Business highlights
Stable business growth. Nanjing Steel established a unique competitive edge in high-efficiency production and low-cost intelligent manufacturing. Leveraging its industry-leading intelligent manufacturing and premium steel research and development systems, the company continuously enhances production efficiency and product competitiveness. The company managed to achieve stable business growth for three consecutive years against industry downturns, recording positive key financial metrics such as return on equity, earnings per share and gearing ratio. Nanjing Steel accelerated its integration into CITIC and achieved prominent synergy. The company has joined efforts with CITIC Pacific Special Steel to launch a 100-day action plan that aims to boost efficiency.
Leading position remains solid in advantageous sectors. Nanjing Steel continued to strengthen its presence in key sectors, including oil and gas equipment, energy pipelines and marine engineering. Following its exclusive supply for the first domestically produced luxury cruise ship, Adora Magic City, the company became the sole supplier for the second domestically produced luxury cruise ship, Adora Flora City. Nanjing Steel also provided materials for the world’s most environmentally friendly Aurora-class transport vessel, which commenced trial operation. After successfully certifying its acid-resistant pipelines, Nanjing Steel once again received certification from Saudi Aramco for its acid-resistant container steel. Meanwhile, sales of its core advanced steel materials continued to grow, reaching 2.6149 million tonnes in 2024, accounting for 28.03% of total steel product sales. The gross profit margin was 17.17%, a year-on-year increase of 1.14 percentage points.
International layout
Nanjing Steel is actively accelerating its international business development and globalisation efforts, with the successful installation of 10 coking coal ovens for its first overseas industrial project, boasting an annual production capacity of 6.5 million tonnes of coking coal. Additionally, the company’s annual export volume surpassed 1.5 million tonnes.
Technological innovation
Promoting high-end technological research. Nanjing Steel focused on high-end product development, promoting product innovation and technological breakthroughs. The company’s ultra-low-temperature steel and ultra-high-strength wear-resistant steel were recognised as national "champion products" in manufacturing. As a key player in the southern Jiangsu specialty steel material group, Nanjing Steel became a part of the national advanced manufacturing industry cluster, contributing to the resilient development of the industry.
Strengthening critical technology reserves. The project “Nanjing Steel Comprehensive Digital Production Operations and Key Technology Innovations in Intelligent Manufacturing” received the Special Prize at the Metallurgical Science and Technology Awards. Furthermore, Nanjing Steel participated in two initiatives—"Green and Clean Steelmaking Technology and Application based on Carbon Dioxide Utilisation” and “Functional and Green Design and Preparation of Refractory Materials Supporting Green Steel Manufacturing”, winning the Second Prize of the National Science and Technology Progress Awards. Nanjing Steel also filed and obtained recognition for over 1,000 patents and proprietary technologies, increasing the share of invention patents from 63% to 70%. The company also participated for the first time in the formulation and revision of two international standards, marking a significant achievement. In the past year, the company completed 22 evaluations of new products and technologies, all fulfilling or exceeding international advanced standards.
Reinforcing strategies in digitalisation. The company continued to advance the Smart Nanjing Steel strategy to digitalise all business operations and operationalise all digital systems. By emphasising “AI+” and “Data Element×” strategies, the company fostered new quality productive forces. The company initiated a dedicated action plan with a focus on versatile AI applications, deepening synergies between IT and business development whilst integrating AI into steel industry applications. This effort positioned Nanjing Steel as one of the first public companies in the country to formally recognise digital assets on its balance sheet. The company also won second place in the national finals of the “Data Element×” competition and was selected as one of the first excellence-level intelligent factories in the country.
Green development
Nanjing Steel is devoted to acting on ESG principles, implementing ultra-low emission transformation throughout the production process targeting organised and fugitive emissions and adopting clean logistics. The company received again the A-level environmental performance rating for its long-process steelmaking operations in Jiangsu Province and was among the first provincial pilot enterprises for carbon peak and carbon neutrality initiatives. The company made it debut on the Fortune China ESG Influence List and received the Golden Responsibility Award in the 2024 Sina Finance Annual Sustainability Awards. It was also recognised by the Chinese Association for Public Companies for two consecutive years as having the Best Practices in Sustainable Development. The company has also been rated by Wind ESG as one of the Top 100 Listed Companies with ESG Best Practices in China for three consecutive years.