On April 24, Shandong Province-based Chinese steelmaker Shandong Iron and Steel Co. (Shandong Steel) announced that in 2013 it achieved an operating revenue of RMB 70.47 billion ($11.5 billion), down 3.87 percent year on year, while it recorded a net profit of RMB 158 million ($25.8 million), with earnings per share of RMB 0.0246, following the loss incurred in the previous year.
In 2013, Shandong Steel produced 10.78 million mt of pig iron, 11.41 million mt of crude steel and 10.96 million mt of finished steel. As for 2014, Shandong Steel plans to produce 11.7 million mt of pig iron, 13.5 million mt of crude steel and 13.3 million mt of finished steel, while it is targeting an operating revenue of RMB 72.2 billion ($11.78 billion).
On the same date, Shandong Steel issued its financial report for the first quarter of the current year, announcing an operating revenue of RMB 14.071 billion ($2.3 billion), down 19.98 percent year on year, and a net loss of RMB 371 million ($60.5 million) compared to a net profit of RMB 2.5934 million ($0.42 million) in the first quarter last year.