Hangzhou-based Chinese steelmaker Hangzhou Iron and Steel Co. (Hangzhou Steel) has announced that it registered a net profit of RMB 300 million ($47 million) in 2011, down 13.88 percent year on year. Earnings per share for the given year amounted to RMB 0.36 ($0.057).
In 2011, the operating revenue of Hangzhou Steel totaled RMB 22.33 billion ($3.53 billion), up 15.02 percent year on year.