SteelOrbis Shanghai
According to the Shougang Group's annual report disclosed on April 12, the company's 2006 sales revenues totaled RMB 22.141 billion ($2.87 billion), up 4.35 percent compared with the previous year. Meanwhile, Shougang's net profits for the year in question reached RMB 486 million ($63 million), representing a year on year decrease of 38.72 percent; earnings per share last year were RMB 0.21 ($0.027).
The Shougang Group's 2006 figures also indicated outputs for the year at 4.337 million mt for pig iron, 5.0592 million mt for crude steel, 4.6371 million mt for finished steel, with total steel exports amounting to 521,300 mt.
Influenced by its relocation to new premises, Shougang has reduced its projected production figures for the current year. Shougang plans to produce 4.23 million mt of iron, 4.9 million mt of crude steel, and 4.65 million mt of finished steel in 2007.
Shougang Group's 2007 first quarter report, released on the same day as the 2006 annual report, shows that the company has benefited from the increases seen in steel prices since the beginning of this year. Shougang's Q1 sales revenues totaled RMB 6.267 billion ($810 million), up seven percent year on year. Meanwhile, net profits reached RMB 141 million ($18 million), up 42 percent.