Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Group director penalized for leaking inside information on Baowu restructuring
Chai Zhiyong, a director and deputy general manager of TISCO Group, participated in planning Shanxi Guoyun's free transfer of 51% equity in TISCO Group to China Baowu; during the sensitive period he disclosed restructuring information to others, and the information was passed on to Li Jianying, who engaged in insider trading in "TISCO Stainless". The Shanxi Securities Regulatory Bureau fined Chai Zhiyong RMB 500,000 and Li Jianying RMB 700,000.
2005
Former chairman Chen Chuanping's unauthorized direction of overseas futures caused state-owned asset loss of over RMB 900 million
From May 2005 to November 2007, while chairman of TISCO Group, Chen Chuanping decided without authorization and directed subsidiary TISCO Import and Export (Hong Kong) to engage in large-scale overseas futures trading, causing a state-owned asset loss equivalent to over RMB 900 million; later, while a member of the Shanxi Provincial Standing Committee and Taiyuan Municipal Party Secretary, he accepted bribes of RMB 910,000. In 2015 he was expelled from the Party and public office. In 2016, the Xuzhou Intermediate People's Court sentenced him to six years and six months in prison and a fine of RMB 300,000 for bribery and abuse of power by personnel of a state-owned company.