Baogang Co., Ltd. announced that on January 18, 2026, a 650 m³ saturated water and steam tank in the steelmaking operation department of its holding subsidiary exploded, killing 10 people, injuring 84 others, and causing direct economic losses of 67.23 million yuan. The accident was determined to be a major production safety liability accident. The company was responsible for the accident and recommended administrative punishment; 7 people were taken coercive measures by the judicial authorities, 2 recommended being referred to judicial processing, and 17 recommended administrative punishment. Currently, the production line involved has resumed production, and insurance claims are in progress.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.