In the first quarter of the current year, major Chinese steel producer Hebei Iron and Steel Group achieved an operating revenue of RMB 32.27 billion ($4.93 billion), up 16.75 percent year on year; while its net profit in the same period totaled RMB 390 million ($59.6 million), down 3.35 percent year on year; according to the steelmaker's Q1 report released on April 26.
According to Hebei Iron and Steel Group's 2010 annual report released on the same day, its operating revenue in 2010 reached RMB 116.919 billion ($17.9 billion), up 34.10 percent year on year, while its net profit for the year was RMB 1.41 billion ($215.6 million), up 49.42 percent year on year.