At its 2012 annual meeting Chinese steel giant Baosteel Group announced that its gross revenue reached RMB 313.3 billion ($49.49 billion) in 2011, compared to RMB 270.1 billion ($42.67 billion) in 2010, while its gross profit for 2011 totaled RMB 18.7 billion ($2.95 billion), down 20.8 percent from RMB 23.6 billion ($3.73 billion) in 2010.
Meanwhile, Baosteel Group's finished steel and semi-finished steel outputs in 2011 reached 44.27 million mt and 43.61 million mt, up 5.2 percent and 5.8 percent year on year, respectively.