On March 30, Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) announced that in 2014 it achieved an operating revenue of RMB 74.046 billion ($11.9 billion), down 1.7 percent year on year, while it recorded a net profit of RMB 928 million ($149.4 million), up 20.52 percent year on year.
In 2014, Ansteel produced 21.78 million mt of pig iron, up 0.7 percent, 21.45 million mt of crude steel, rising by 3.05 percent, and 20.05 million mt of finished steel, increasing by 3.51 percent, all on year-on-year basis.
Meanwhile, Ansteel expects to record a net profit of RMB 20 million ($3.2 million) in the first quarter of the current year, compared to a net profit of RMB 286 million ($46.1 million) in the same quarter last year.