Shougang’s operating revenue down 9.87 percent in Q1

In its financial report for the first quarter this year, Beijing-based Chinese steelmaker Shougang Iron and Steel Co. has announced an operating revenue of RMB 6.561 billion ($1.07 billion), down 9.87 percent year on year. In addition, the steelmaker achieved a net profit of RMB 4.7996 million ($0.78 million) in the first quarter, following the loss it recorded in the same period last year.