Hunan Province-based Chinese steelmaker Valin Iron and Steel has issued its annual financial report for 2019, announcing an operating revenue of RMB 107.116 billion ($15.1 billion) for the year, up 5.84 percent year on year, while posting a net profit of RMB 4.391 billion ($0.6 billion), down 40.48 percent year on year.
In the given period, Hunan Valin Steel’s finished steel output and sales amounted to 22.88 million mt and 23.18 million mt, up 6.32 percent and 7.44 percent year on year, respectively, while its crude steel output reached 24.0 million mt for the first time ever.
Meanwhile, in 2019 Hunan Valin Steel’s long products achieved an operating revenue of RMB 36.497 billion ($5.1 billion), up 13.49 percent year on year, while its flat products registered an operating revenue of RMB 46.666 billion ($6.6 billion), down 1.79 percent year on year.
Hunan Valin Steel said that it aims to produce 20.0 million mt of pig iron, 24.0 million mt of crude steel and 23.0 million mt of finished steel in 2020.