Gansu Province-based Chinese steelmaker Jiuquan Steel Group Hongxing Iron and Steel Co. (Jiuquan Hongxing Steel) has announced its annual financial report for 2011.
In 2011, Jiuquan Hongxing Steel achieved a total operating revenue of RMB 55.153 billion ($8.75 billion), up 39.54 percent compared to 2010. Meanwhile, the net profit of the company in the given year came to RMB 1.518 billion ($240.95 million), rising by 66.18 percent year on year. Jiuquan Hongxing Steel's earnings per share for 2011 amounted to RMB 0.3712 ($0.0589).
In 2011, Jiuquan Hongxing Steel produced 7.794 million mt of pig iron, 9.112 million mt of crude steel and 9.052 million mt of finished steel.