ChinaSecurities

General Steel Holdings, Inc., headquartered in Beijing, operates a diverse portfolio of Chinese steel companies. With 4.8 million tons aggregate production capacity, its companies serve various industries and produce a variety of steel products including rebar, hot-rolled carbon and silicon sheet, spiral-weld pipe and high-speed wire. The Company has steel operations in Shaanxi province, Inner Mongolia Autonomous Region, Guangdong Province and Tianjin municipality. General Steel Holdings, Inc. was founded in 1988 and is headquartered in Beijing, China. GSI was largely impacted by the steel industry headwinds in Q3:08. Revenue increased 19% Y/Y to $411.5 million. Non GAAP net loss was ($16.6) million compared to $8.0 million in the same quarter of 2007. Pro forma EPS, excluding non-cash change in fair value of derivative was negative $0.46, compared to $0.25 a year ago. In Oct, 2008 the company announced the completion of two new blast furnaces at its Shaanxi Longmen Steel Co., Ltd. joint venture, which will significantly increase its production capacity and efficiency.