In the January-November period of 2012, the aggregate gross profit of 65 major steel enterprises in China’s Hebei Province totaled RMB 13.915 billion ($2.2 billion), down 50.34 percent year on year and only accounting for 7.05 percent of total gross profits of the manufacturing sector in the province, as announced by the Hebei Metallurgical Industry Association. Meanwhile, in the given period, total primary operating revenues of the 65 steel enterprises in question amounted to RMB 1.0454 trillion ($166.5 billion), decreasing by 1.96 percent compared to the same period of 2011.
In particular, in the first 11 months of 2012, 56 of the 65 major steel enterprises in Hebei posted year-on-year decreases in their gross profit. Of the 56 enterprises, 19 steel enterprises witnessed year-on-year decreases exceeding 100 percent, thereby registering losses in the given period.
Meanwhile, in November 2012 the aggregate gross profit of the 65 steel enterprises in question totaled RMB 1.01 billion ($161 million), down 25.61 percent compared to a total gross profit of RMB 1.358 billion ($216 million) in October 2012.