Hu Wangming, chairman of major Chinese steelmaker Baowu Group, has stated that in 2023 the group registered an operating revenue of RMB 1,103 billion, down 4.9 percent year on year, while it posted a gross profit of RMB 31.61 billion for the year, up 1.05 percent year on year.
At the same time, Baowu Group’s crude steel output amounted to 130.77 million mt in 2023, down 0.9 percent from 132 million mt in the previous year.
