SteelOrbis Shanghai
According to the 2007 annual reported issued by China's largest stainless steel mill Shanxi Taigang Stainless Steel Co. Ltd, the company's net profits reached RMB 4.25 billion ($607 million), up 73.81 percent compared with the previous year. Earnings per share last year were RMB 1.228 ($0.175).
In 2007, Shanxi Taigang Stainless Steel Co. Ltd, which is a Shenzhen-listed subsidiary of Taiyuan Iron and Steel (Group) Co. Ltd. (TISCO), produced 7.4081 million mt of iron, up 85.6 percent year on year; its steel output totaled 9.293 million mt, up 72.27 percent, of which stainless steel production accounted for 2.0255 million mt, up 82.54 percent. Also during 2007, the steel producer achieved sales revenues of RMB 81.105 billion ($11.6 billion), up 100.5 percent year on year.
In 2008 the company plans to produce 7.62 million mt of iron and 10 million mt of steel, including 2.6 million mt of stainless steel. Meanwhile, the semi-finished steel production target for 2008 is 9.74 million mt, of which 2.39 million mt will consist of stainless steel.