Fujian Province-based Chinese steelmaker Sansteel Minguang Co., Ltd. has issued its announced that in the first three months its operating revenue amounted to RMB 11.36 billion ($1.66 billion), up 4.83 percent year on year, while it recorded a net loss of RMB 96.09 million ($14.1 million), compared to a net profit of RMB 75.48 million in the same period of last year.
In the investor relations activities held by Sansteel Minguang, the company stated that the increase in production output contributed to the company’s rise in operation revenue in the January-March period this year.
However, the company also said it faced heavy operating pressure in the given period amid the severe situation for steel industry.
The company targeted to optimize its product structure and develop new products in 2026.