On July 3, 2025 (Beijing time), Tsingshan Group Chairman officially signed the acquisition agreement for Zhangjiagang Pohang Stainless Steel Co., Ltd. with the Chairman of POSCO in Seoul, South Korea.

With over 30 years of dedicated development in the stainless steel industry, Tsingshan Group has built a fully integrated industrial chain—from nickel ore mining and ferronickel smelting to stainless steel melting, continuous casting billet production, and the processing of stainless steel sheets, bars, and wire rods. In 2024, the Group achieved sales revenue of 406.6 billion yuan, becoming the first private steel enterprise in China to surpass 400 billion yuan in annual revenue. Tsingshan ranked 265th in the 2024 Fortune Global 500, 70th among China’s Top 500 Enterprises, and 15th among China’s Top 500 Private Enterprises.

Zhangjiagang Pohang Stainless Steel, established in 1997 and located in Zhangjiagang, Jiangsu Province, China, has an annual steelmaking capacity of 1.1 million tons. As a fully integrated steelworks capable of producing high-value stainless steel wire rods and flat products, the company was once hailed as “China’s POSCO.” However, amid growing competition and increasing stainless steel capacity among local producers, its competitive edge has weakened. In 2023, it was the most loss-making among POSCO’s 38 overseas subsidiaries, recording a loss of approximately KRW 180 billion, and it continued to incur a KRW 129.9 billion loss in 2024.