According to the 2009 annual report issued by Guangxi Province-based Chinese steelmaker Liuzhou Steel on February 4, the company registered a very sharp year-on-year increase of 1641.25 percent in its net profit, significantly exceeding expectations.
In 2009 Liuzhou Steel reported sales revenues of RMB 26.5 billion ($3.88 billion), down 9.07 percent compared with the 2008 level of RMB 29.2 billion, while its net profit reached RMB 270 million ($39.54 million), up 1641.25 percent year on year.