On April 18, Liaoning Province-based Chinese steelmaker Fushun Special Steel posted its annual report for 2009. Affected by reduced sales prices, last year the company's net profit came to RMB 26.6091 million ($3.90 million), down by 23.45 percent, its operating revenue totaled RMB 4,177 billion ($0.61 billion), down 22.06 percent, while earnings per share came to RMB 0.0512 ($0.0075), down 23.35 percent, all on year-on-year basis.
The company's output of crude steel in 2009 was 640,500 mt, while finished steel output was 531,400 mt, up 23.25 percent and 24.72 percent respectively compared with 2008. The company stated that it intends to use its undistributed profits to expand its operating scale and also for fixed assets investment.
Meanwhile, the company also disclosed results for the first quarter this year: its net profit for the quarter was RMB 4.8835 million ($0.716 million), up by 23.15 percent year on year, with earnings per share of RMB 0.009 ($0.00132), increasing by 12.5 percent year on year.