[TABLE OF CONTENTS PART I ITEM 1. BUSINESS. 4 ITEM 1A. RISK FACTORS. 10 ITEM 1B. UNRESOLVED STAFF COMMENTS. 20 ITEM 2. PROPERTIES. 20 ITEM 3. LEGAL PROCEEDINGS. 20 ITEM 4. MINE SAFETY DISCLOSURES. 21 PART II ITEM 5. 21 ITEM 6. SELECTED FINANCIAL DATA. 21 ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 21] [Subsidiary Percentage General Steel Investment Co., Ltd. British Virgin Islands 100.0 % Tongyong Shengyuan (Tianjin) Technology Development Co., Ltd. PRC 100.0 % Catalon Chemical Corp. U.S. 84.5 % Tianjin Shuangsi PRC 100 %] [Certification I, Zuosheng Yu, certify that: 1. I have reviewed this Annual Report on Form 10-K of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements] [Certification I, John Chen, certify that: 1. I have reviewed this Annual Report on Form 10-K of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements] [18 U.S.C. SECTION 1350, SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Zuosheng Yu Chief Executive Officer August 30, 2016 John Chen Chief Financial Officer (Principal Financial Officer) August 30, 2016]