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Xinjiang Ba Yi Iron & Steel Co Ltd

Xinjiang Ba Yi Iron & Steel Co., Ltd. is engaged in the smelting, rolling, processing, and sale of steel products in China. Its main products include hot-rolled coils, rebars, medium and heavy plates, wire rods, profiles, hot-dip galvanized coils, bars, and cold-rolled coils. Founded in 2000, the company is based in Ürümqi, China, and operates as a subsidiary of Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd.

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*ST Bagang's private share placement application accepted by Shanghai Stock Exchange, plans to raise 1.5 billion yuan

*ST Bagang's private share placement application has been accepted by the Shanghai Stock Exchange. The offering is expected to raise 1.5 billion yuan, with Zhongtai Securities and Huabao Securities serving as sponsors. The news was disclosed on September 15.
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*ST Bayi Steel's A-share private placement application accepted by Shanghai Stock Exchange

*ST Bayi Steel announced that on September 15, 2026, the company received an acceptance notice from the Shanghai Stock Exchange. The exchange reviewed the prospectus and related application documents submitted by the company for a securities issuance by a main-board listed company, determined that the documents were complete and met the statutory requirements, and decided to accept the application and conduct its review in accordance with the law. The issuance remains subject to approval by the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission before it can be implemented, and there is uncertainty as to whether and when final approval will be obtained.
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Xinjiang Ba Yi Iron & Steel posts net loss of 342 million yuan in 2026 interim report, narrowing year-on-year

Xinjiang Ba Yi Iron & Steel released its 2026 interim report, with a net loss attributable to the parent company of 342 million yuan during the reporting period, narrowing the loss by 354 million yuan compared with the same period last year, marking three consecutive years of narrowing losses. The company's total operating revenue was 9.319 billion yuan, up 6.71 percent year-on-year. Net cash inflow from operating activities was 471 million yuan, an increase of 726 million yuan year-on-year. As of the end of the period, the asset-liability ratio was 101.76 percent, the gross profit margin was 5.50 percent, and diluted earnings per share were negative 0.22 yuan.
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Pan-China Certified Public Accountants Fined Twice in Under a Month, Total Penalties Exceed 10 Million Yuan

Pan-China Certified Public Accountants has been hit with regulatory administrative penalties twice in under a month, with total fines and confiscations exceeding 11 million yuan. Recently, for audit failures in the financial fraud case of Poly Pharm, Pan-China had 2.1 million yuan in business revenue confiscated and was fined 4.2 million yuan, while three signing certified public accountants were fined a combined 1.5 million yuan. Earlier in June, the Xinjiang Securities Regulatory Bureau found that Pan-China failed to perform its duties diligently in the 2022 to 2024 annual report audits of Bayi Iron and Steel, confiscating its business revenue and imposing an equal fine, totaling 4.8113 million yuan. With the two cases combined, Pan-China's practice quality has come under scrutiny, with violations involving failure to maintain professional skepticism over abnormal data and inadequate execution of audit procedures.
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