Major Chinese steelmaker Baosteel has announced that it registered an operating revenue of RMB 151.372 billion ($21.3 billion) in the January-June period this year, down 7.28 percent year on year, while it posted a net profit of RMB 4.879 billion ($0.69 billion) for the given period, up 7.36 percent year on year.
In the first six months this year, Baosteel’s operating performance remained the best in the domestic industry. In response to the downward trend of the steel market, Baosteel has fully implemented the business principle of “adhering to planning as guidance, driving development through innovation, invigorating vitality via transformation, and creating value through synergy,” and has leveraged the advantages of the multiple production bases, which contributed to the rises in its net profit in the first six months this year.