General Steel's JV Launches UHF RFID Tag and Cloud-based Internet-of-Things Platform

General Steel Holdings, Inc. announced its majority-owned joint venture, Tianjin General Shengyuan IoT Technology Co., Ltd. ("General Shengyuan IoT") launched a new UHF RFID tag for iron and steel, and a cloud-based Internet-of-Things platform for steel logistics and bulk commodity management.

General Shengyuan IoT's UHF RFID tag is fully compatible with the Electronic Product Code (EPC) tag data standard, which coupled with its cloud-based Internet-of-Things platform, enable steel mills to quickly and effectively enhance the efficiency and accuracy of logistic planning and management. The cloud-based platform integrates the UHF RFID tag with sensors, satellite communication, data collection devices, wireless vehicle terminals and handsets to aggregate real-time data transmissions and provide long-distance tracking and management of bulk commodities. The platform also integrates with Effective Management Systems (EMS) and Enterprise Resource Planning (ERP) systems for real-time inventory management. The Company has initiated internal procedures for patents application of the iron and steel UHF RFID tag and Internet-of-Things platform.

Henry Yu, Chairman and Chief Executive Officer of General Steel commented, "We appreciate the high-efficiency efforts of General Shengyuan IoT, which quickly launched its first major product less than two months after its inception in February. This new product combines the expert team's RFID technology and General Steel's vertical expertise to tap China's huge market potential for steel logistics management. We are pleased with our progress in business transformation, and remain confident that the joint venture will drive greater synergies and efficiency enhancements soon."