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A Pearl of Feishang Group beside the Yangtze River

May 3, 2011



In April, spring water flew fast in the south of the lower reaches of the Yangze River. Jiangxi Pinggang Co., Ltd., Jiujiang Branch, a pearl of Feishang’s steel & iron industry, stands beside the Yangtze River in Hukou County, Jiujiang, Jiangxi. Steel & iron industry is Feishang’s most important pillar industry while Jiujiang Branch is an increasingly-important production base of Jiangxi Pinggang Co., Ltd. On April 23, a party of tens of persons, including leaders of affiliated companies present at the 2010 Commendatory Meeting, award winners, and team representatives, visited Jiujiang Steel Plant.


As everyone knows, the state’s macroeconomic control exerted pressure constantly when the competition in the industry became increasingly fierce in recent years. Iron ore and coking coal price rose rapidly. Steel & iron enterprises were living in a difficult environment. Despite of such a poor situation, PISC still created a miraculous “PISC Effect” one after another due to its boldness and ability. Jiujiang Branch played an important role during that period. It was a big hope for the group’s steel & iron development.


Located beside Yangtze River, Jiujiang Steel Plant owns a steel & iron shipment wharf, with advantageous geographic, transportation and logistics conditions and complying with the requirements specified in the state’s steel & iron industry planning. Since Jiujiang Steel Plant was merged by PISC in 2006, PISC has treated the development of Jiujiang Steel Plant as an important means to enhance its business capacity. With the support of the group, PISC invested more than RMB 6 billion in installments to phase out and rebuild Jiujiang Steel Plant’s outdated technique and technology. Thus Jiujiang Steel Plant further strengthened its competitive ability and revived in just four years from an enterprise on the verge of bankruptcy.


PISC has a trustable brand and strength in China’s building steel industry. However, Jiujiang Steel Plant’s up-to-date moderate-thickness plate production line further enhanced PISC’s competitiveness. As visitors saw the spectacular production line, at which thick hard plates changed into thin cold gray plates, they felt amazing and took pictures with it. All of them thought that PISC deserved its name of “a dark horse” in China’s steel & iron industry and it was Feishang’s pride in the process of industrial development.


Then visitors came to Jiujiang Steel Plant’s wharf, where coke coal, iron ore and steel & iron ships were crowded and red cranes stood upright. Such a vigorous scene also shocked visitors. PISC leaders who accompanied visitors told everyone that Jiujiang Steel Plant’s production capacity reached 50% of PISC’s total production capacity. Jiujiang Steel Plant’s main business incomes exceeded RMB 10 billion last September, accounting for 81.26% of main business incomes of the Jinshawan Industrial Park in Hukou County. In addition, its total amount of profit & tax reached RMB 638 million, growing 78.48% compared with the same period in the preceding year. Jiujiang Steel Plant is the second enterprise in Jiujiang which received main business incomes exceeding RMB 10 billion, only after Petrochemical Corporation.


In Hukou, Boyang Lake connects Yangtze River, where trees grow beside the bank. Jiujiang Steel Plant’ busy and grand factory buildings also reveal vigor as strong as the spring.
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