Liaoning Province-based Chinese steelmaker Benxi Iron and Steel Plate Co. (Bengang Steel Plate) has announced that in the first quarter this year it achieved an operating revenue of RMB 11.73 billion ($1.66 billion), down 0.3 percent year on year, and a net profit of RMB 180 million ($25.4 million), down 34.5 percent year on year.
Bengang Steel Plate also announced in its financial report for 2019 that it registered an operating revenue of RMB 52.74 billion ($7.45 billion) for the year, up 5.1 percent year on year, and a net profit of RMB 555.6 million ($78.5 million), down 46.39 percent year on year.
In 2019, it produced 9.7272 million mt of pig iron, up 14.61 percent, 9.9639 million mt of crude steel, up 11.2 percent, 12.2674 million mt of hot rolled coil (HRC), increasing by 6.77 percent, 5.6263 million mt of cold rolled coil (CRC), up 0.37 percent, year on year, respectively.
The steelmaker said that it plans to produce 10.42 million mt of pig iron, 10.78 million mt of crude steel, 13.24 million mt of HRC and 5.97 million mt of CRC in 2020.
$1 = RMB 7.0803
