Inner Mongolia Baogang Steel Union Co, a Baotou-based steel manufacturer, was recently named as one of the top 500 listed companies in China by the American magazine Fortune, reports Baotou Daily.

The company jumped 57 spots to the 149th place on the list, compared with last year.

The company’s annual revenues hit 53.68 billion yuan ($8.03 billion), with profits reaching 2.06 billion yuan. Its net profit margin was 3.84 percent.

The selection was made by Fortune (Chinese edition) and CICC Wealth Management. It considers the performance and achievements of China-listed companies over the past year, covering all Chinese companies listed in China and abroad.

This year, a total of 22 companies in the steel industry were listed in the top 500 enterprises in China, two more than last year.

The top three companies in the list this year are SINOPEC, CNPC and China State Construction.

Seamless steel tubes produced by Inner Mongolia Baogang Steel Union Co [Photo/btsteeltube.com]