According to the annual report of Inner Mongolia-based Chinese steel producer Baotou Steel, in 2009 the company registered a year-on-year decrease of 22.91 percent in its operating revenue, which came to RMB 34.016 billion ($4.99 billion). Meanwhile, its net loss for the year totaled RMB 1.631 billion ($239 million), compared to a net profit of RMB 920 million ($135 million) in 2008.
Regarding the decline in its operating revenue and net profit, the company has cited the main reasons as the decreases in steel prices and export volumes.