Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co., Ltd. (Baogang) has issued its financial report for the first nine months this year, announcing that it registered an operating revenue of RMB 53.582 billion ($7.5 billion) for the period, down 7.94 percent year on year, while posting a net profit of RMB 475 million ($66.2 million), shifting from a net loss of RMB 746 million in the same period last year.
In the July-September period this year, Baogang registered an operating revenue of RMB 17.999 billion ($2.5 billion), up 5.02 percent year on year, while posting a net profit of RMB 61.79 million ($8.6 million) for the given period, shifting from a net loss of RMB 1.165 billion in the same period last year.
In the current year up to the end of September, Baogang’s finished steel output exceeded 10.7976 million mt, while it aims to produce 15.14 million mt of finished steel in the full year.