Chinese steelmaker Shagang Co., Ltd, the listed subsidiary of Jiangsu Province-based Shagang Group, has issued its preliminary financial report for 2021, stating that its operating revenue amounted to RMB 18.487 billion ($2.9 billion) in the given year, up 28.14 percent year on year, while its net profit reached RMB 1.08 billion ($0.17 billion), rising by 66.32 percent year on year.
Shagang Co. stated that it seized market opportunities amid the good performance of the steel industry in the given year, reduced its costs and optimized its marketing strategy, which contributed to the big rise in its net profit.
