On February 26, Hubei Province-based Chinese steelmaker Daye Special Steel Co. issued its financial results for 2012, announced an operating revenue of RMB 8.12273 billion ($1.3 billion) for the year, down 12.30 percent, while its operating profit amounted to RMB 203.55 million ($32.62 million), down 63.34 percent, both year on year. In addition, in 2012 Daye Special Steel’s net profit fell by 62.69 percent year on year to RMB 218.22 million ($34.97 million).
During the year in question, Daye Special Steel produced 1.0926 million mt of crude steel, down 12.76 percent, and 1.4356 million mt of finished steel, up 0.44 percent, while its finished steel sales volume amounted to 1.4396 million mt, up 1.76 percent, all on year-on-year basis.As regards 2013, Daye Special Steel aims to produce 1.15 million mt of crude steel and 1.5 million mt of finished steel, while it plans to sell 1.5 million mt of finished steel. Daye Special Steel is targeting an operating revenue of RMB 8.85 billion ($1.42 billion) in 2013.