On April 24, Liaoning Province-based Chinese steelmaker Bengang Steel Plates Co., a subsidiary of Benxi Iron and Steel (Group) Co., issued its financial results for the first quarter of the current year and its revised results for 2012.
In the first quarter, Bengang Steel Plates achieved an operating revenue of RMB 11.1 billion ($1.8 billion) and a net profit of RMB 102 million ($16.3 million), up 4.53 percent and 16.76 percent respectively, both on year-on-year basis.
According to revised figures, in 2012 the company's operating revenue amounted to RMB 44.59 billion ($7.1 billion), down 11.58 percent, while its net profit totaled RMB 69.37 million ($11 million), down 91.28 percent, both on year-on-year basis.
In 2012, the company produced 9.8556 million mt of pig iron and 9.817 million mt of crude steel, up 1.93 percent and down 1.39 percent, both year on year.
In addition, in 2012 Bengang Steel Plates produced 9.2755 million mt of hot rolled plate, 1.8798 million mt of cold rolled plate, and 753,600 mt of special steel, up 3.4 percent, one percent and 5.33 percent, all year on year.