Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has announced that in 2020 its listed company posted an operating revenue of RMB 14.427 billion ($2.2 billion), up 7.07 percent year on year, while registering a net profit of RMB 650 million ($99.7 million), up 22.81 percent year on year.
Shagang also issued its financial forecast for the first quarter of the current year, forecasting a likely net profit of RMB 180-270 million for the first three months, up 83.16-174.74 percent year on year.
