At the end of the Cultural Revolution (70 years), in order to "prepare for war and famine", the country decided to establish a steelmaking and steel rolling base in Sipo Town, a mountainous area in the southwest of Wuyang County, Henan Province (at that time, there was still iron in the area after drilling. The ore was later found to be poor ore with no mining value). Since the place was under the jurisdiction of Wuyang County at that time, it was named Wuyang Iron and Steel Works, or Wugang for short. It is now under the jurisdiction of Pingdingshan City, Henan Province, and its current name is: Henan Wugang Jugang Steel Plate Co., Ltd.
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