Shandong Province-based Chinese steelmaker Shandong Iron and Steel Co., Ltd (Shandong Steel) has issued its financial report for the first quarter of the current year, announcing an operating revenue of RMB 13.843 billion ($2.06 billion) for the given period, up 17.27 percent year on year, and a net profit of RMB 151.0 million ($22.5 million), down 75.75 percent year on year.