Gansu Province-based Hongxing Steel, a subsidiary of Gansu-based Chinese steelmaker Jiuquan Iron and Steel Group (JISCO), has issued its financial results for 2014, announcing an operating revenue of RMB 95.753 billion ($15.4 billion) for the given year, up 1.25 percent year on year, and a net profit of RMB 39.1337 million ($6.3 million), following the loss recorded in the previous year.
In 2014, Hongxing Steel produced 8.81 million mt of pig iron, 10.35 million mt of crude steel and 10.12 million mt of finished steel, including 1.08 million mt of stainless crude steel and 1.15 million mt of stainless finished steel.