| | | | | Percentage | | |
| Subsidiary | | of Ownership | | |||
| General Steel Investment Co., Ltd. | | British Virgin Islands | | | 100.0 | % |
| General Steel (China) Co., Ltd. (“General Steel (China)”) | | PRC | | | 100.0 | % |
| Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | | PRC | | | 80.0 | % |
| Yangpu Shengtong Investment Co., Ltd. (“Yangpu Shengtong”) | | PRC | | | 99.1 | % |
| Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | | PRC | | | 98.7 | % |
| Longmen Joint Venture | | PRC | | | VIE/60.0 | % |
| Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | | PRC | | | 99.0 | % |