Hualing Steel issues 2008 financial results

On March 27, Chinese steelmaker Hualing Iron and Steel Group issued its 2008 financial results. Accordingly, the company has registered a decrease of over 40 percent in its net profit.
 
In 2008, Hualing Steel achieved a total operating income of RMB 56.318 billion ($8.25billion), up 28.45 percent year on year; in contrast, the company's net profit for 2008 decreased by 40.9 percent to RMB 953million ($140million).