China’s state-owned Sinosteel Corporation (Sinosteel) has announced in its annual report that in 2016 it registered an operating revenue of RMB 9.444 billion ($1.37 billion), down 3.33 percent year on year, with a net profit of RMB 512 million ($74.42 million), compared to the net profit of RMB 475 million it recorded in 2015.