Despite the aftereffects of the global economic crisis, Hubei Province-based Wuhan Iron and Steel Co., Ltd (WISCO), one of China's leading steel companies, registered a good performance in 2010 in regard to both steel production and revenues.
According to its preliminary results, in 2010 WISCO produced 34.52 million mt of pig iron, up 16.97 percent, 36.58 million mt of crude steel, rising by 20.55 percent, and 35.83 million mt of finished steel, up 22.63 percent - all compared with 2009. Meanwhile, WISCO's total sales income in 2010 grew by 32 percent year on year to RMB 185 billion (about $28 billion), while its net profit rose by 20 percent year on year to RMB 3 billion (approximately $450 million).
For China's 12th five-year plan period (2011-15), WISCO is targeting an annual operating revenue of RMB 250 billion (about $38 billion).