Sangang Minguang’s net profit up 55.69 percent for 2021

Wednesday, 27 April 2022 11:44:22 (GMT+3)   |   Shanghai
       

Fujian Province-based Chinese steelmaker Fujian Sangang Minguang Co. (Sangang Minguang) has issued its financial report for 2021, stating that its operating revenue amounted to RMB 62.753 billion ($9.6 billion), up 29.02 percent year on year, while its net profit reached RMB 3.979 billion ($0.61 billion), up 55.69 percent year on year.

In 2021, Sangang Minguang’s outputs of crude steel, pig iron, finished steel, coke, sintering ore and pellet amounted to 11.4039 million mt, 9.6603 million mt, 11.389 million mt, 446,900 mt, 12.406 million mt and 1.8475 million mt, up 0.29 percent, down 0.27 percent, down 1.23 percent, down 2.2 percent, up 3.59 percent and up 19.54 percent, year on year, respectively.

Sangang Minguang has four steel production bases, with a total annual capacity of 12.0 million mt.


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