Weng Yuqing, an academician of China Iron & Steel Research Institute Group (CISRIG) and president of the Chinese Society for Metal announced the group has firstly developed the third generation automobile steel wheels and firstly enters into the industrialized development and trial-manufacturing of related productions. He also added CISRIG is expected to implement commercial operations in China before the year 2014, according to an interview held by the Securities Times Monday.

Cai Rang, secretary of the Party Committee, said that after the application of the third generation automobile steel is widely commercialized, the group will inject assets to its public companies.

At present, CISRIG has three public companies, which are Antaios (000969), Aritime (600560), and Cisri-Gaona (300034).

Antaios's main business is new materials, while Aritime is the comprehensive high-technology service of industrial automation. Cisri-Gaona is head of the research and development, production and sales of high temperature alloy materials for aerospace materials.

The third generation automobile steel is just 5 percent higher than normal steel.