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Baosteel Co., Ltd.

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2024

    Former Baosteel VP Hu Hong expelled from Party and public office amid Baowu sales-sector corruption cases

    Hu Hong, former vice general manager of Baoshan Iron & Steel (Baosteel), was expelled from the Communist Party and dismissed from public office and transferred for prosecution for accepting luxury goods, cash gifts and travel arrangements. In 2024, China Baowu stepped up scrutiny of corruption in its sales sector, handling multiple cadres involved in steel-trade rebates, benefit transfers and illegal business activities. Baowu Group launched a special rectification campaign in the sales sector.

    Source

  2. 2020

    Baosteel affiliate fined for environmental violation

    Fine or penalty

    Regulators disclosed that Shandong Baohua Wear-Resistant Steel Co., Ltd., an equity-invested subsidiary of Baoshan Iron & Steel, was fined RMB 65,000 for an environmental violation. The penalty decision stated that records of raw and auxiliary material use, waste, disposal destinations, and volatile organic compound content were irregular and incomplete.

    Source excerpt

    • 宝钢股份（600019.SH）参股子公司山东宝华耐磨钢有限公司因环境违法行为收到行政处罚。山东宝华耐磨钢有限公司被处以罚款6.5万元。该处罚信息于2020年11月26日被相关监管机构披露。
    • 山东宝华耐磨钢有限公司原料、辅料的使用量、废弃量、去向以及挥发性有机物含量台账记录不规范、不完善。违反了《山东省环境保护条例》第五十条之规定。
    • 宝山钢铁股份有限公司被处以罚款28万元。该处罚信息于2021年5月14日被相关监管机构披露。
    Source