Finished rail products produced by Baogang Group. [Photo/Baotou news network]

Baogang Group in Baotou coordinated production, reform, environmental protection and other key tasks in the first half of this year, maintaining overall stability. From January to June, it is expected to achieve operating income of 65.17 billion yuan ($9.62 billion), a year-on-year increase of 13.32 percent.

Since the beginning of this year, Baogang has adjusted its product structure, increased its efforts to develop surrounding markets, and comprehensively improved its ability to generate profits. In the first half of the year, an investment of 1.44 billion yuan was completed, 101 new projects were started, 196 projects were under construction, and the operating rate was 59 percent.

Baogang also deepened cooperation with China Baowu Steel Group Co, a leading State-owned enterprise. Among their eight cooperation projects, four have completed stage cooperation tasks.

In addition, Baogang has continued to increase R&D investment. In the first half of the year, it invested 2.23 billion yuan in R&D, and its investment intensity reached 3.4 percent.

Furthermore, in terms of green transformation, Baogang's green and low-carbon technology is at the forefront of Inner Mongolia autonomous region and the steel industry.

The enterprise has accelerated the ultra-low emissions transformation of the steel process, planned 75 transformation projects throughout the year, built 26 charging piles, and built a green logistics system, pursued the peaking of carbon emissions and carbon neutrality, and established Inner Mongolia's first hydrogen energy project.