 | |
| Company type | Private |
|---|---|
| Industry | stainless steel, nickel |
| Founded | 1988; 36 years ago (1988) |
| Founders | Xiang Guangda |
| Headquarters | Wenzhou, China |
| Area served | Worldwide |
| Key people | Xiang Guangda (CEO) |
| Revenue | US$28 billion (2018) |
| Number of employees | 56,000 (2018) |
| Website | tssgroup |
| Tsingshan Holding Group | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 青山控股集團有限公司 | ||||||||
| Simplified Chinese | 青山控股集团有限公司 | ||||||||
| Literal meaning | Green Mountain Holdings Group Company Limited | ||||||||
| |||||||||
The Tsingshan Holdings Group (Chinese: 青山控股, ching-shan) is a Chinese private company active in the stainless steel and nickel industry.
Tsingshan Holdings was founded in 1988 by Xiang Guangda in Wenzhou. It moved into the Indonesian nickel industry in 2009.
Among its assets are:
- Bases for nickel-chromium alloy smelting, stainless steel smelting and steel rolling in Lishui, Fuyang, Yangjiang and Qingyuan
- A share in the Morowali Industrial Park - a nickel processing facility with at least 20 smelters in Morowali Regency, Sulawesi, part of the Belt and Road Initiative
- Chrome ore mines in Zimbabwe
- Sales outlets in Foshan, Wenzhou, Shanghai and Wuxi
Tsingshan was ranked 279th in the Fortune Global 500 for 2021. It has been described as the world's largest nickel producer.
In early 2022, Tsingshan experienced financial difficulty after shorting the price of nickel, only to see it rise. The firm took losses of about USD 1 billion, and later disbanded its internal futures trading team.
References
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- Menon, Praveen; Zhang, Min; Nangoy, Fransiska (March 14, 2022). "Chinese tycoon's 'big short' on nickel trips up Tsingshan's miracle growth". Reuters. Archived from the original on 2022-07-27. Retrieved 2022-07-27 – via www.reuters.com.
- 21世纪海上丝绸之路与全球海洋支点对接研究：中国福建、印度尼西亚调研报告 Study on "21st Century Maritime Silk Road" Docking with "Global Maritime Fulcrum"：Research Report about Fujian Province of China and Indonesia. Beijing Book Co. Inc. May 1, 2017. ISBN 9787520303897. Archived from the original on April 18, 2023. Retrieved August 6, 2022 – via Google Books.
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- "Chinese nickel giant Tsingshan said to have sufficient inventory for delivery". South China Morning Post. March 10, 2022. Archived from the original on July 27, 2022. Retrieved July 27, 2022.
- FUND, INTERNATIONAL MONETARY; Department, International Monetary Fund Monetary and Capital Markets (April 19, 2022). Global Financial Stability Report, April 2022: Shockwaves from the War in Ukraine Test the Financial System's Resilience. International Monetary Fund. ISBN 9798400205293. Archived from the original on April 18, 2023. Retrieved August 6, 2022 – via Google Books.
- "Beijing weighs nickel rescue deal for billionaire owner of Tsingshan". Financial Times. March 11, 2022. Archived from the original on July 27, 2022. Retrieved July 27, 2022.
- Desai, Pratima (March 8, 2022). "China's Tsingshan fires nickel rally as it cuts costly exposure-sources". Reuters. Archived from the original on 2022-07-27. Retrieved 2022-07-27 – via www.reuters.com.
- "Nickel 'alchemist' Xiang Guangda aims to work his magic on batteries". Financial Times. 14 March 2023. Archived from the original on 15 March 2023. Retrieved 15 March 2023.