According to its financial report for the first half of 2009 released on August 11, China's Hebei Province-based steelmaker Handan Steel Co., Ltd achieved RMB 16.847 billion ($2.47 billion) in sales revenues during the period in question, down 18.31 percent year on year, while its net profit came to RMB 69.328 million ($10.15 million), down 87.5 percent.
During the first half of this year, the company produced 2.2696 million mt of pig iron, 3.0233 million mt of crude steel, and 2.849 million mt of finished steel, up 8.02 percent, 4.8 percent, and 4.97 percent respectively year on year.
Handan Steel also estimates that its net profit for the first three quarters of this year will be down by more than 50 percent under the influence of the global economic recession.