The predecessor of Wanzhi Group was established in 2002 located in Henan Zidong Steel Centre by the Mr. Wang Huamin who is founder and chairman of the group. On August 8, 2018, Wanzhi completed brand integration, equity distribution and asset restructuring, and officially launched the management transformation and strategic layout of Wanzhi Group.

Wanzhi Steel is a business unit of Wanzhi Group under the import and export business, relying on the Zhengzhou Wanzhi Materials Co., Ltd which regional subsidiary in Henan province, responsible for the operation of the metal materials import and export business, it is also a self-owned trademark and brand of the Wanzhi Group.