On February 26, Henan Province-based Chinese steelmaker Zhongyuan Special Steel Co. announced its financial results for 2012. Accordingly, in the given year its operating revenue was RMB 1.85432 billion ($297.2 million), up 6.77 percent year on year. Meanwhile, in 2012 the company’s net profit attributable to shareholders amounted to RMB 75.2039 million ($12.05 million), down 17.12 percent on year-on-year basis. In the given year, basic earnings per share (EPS) amounted to RMB 0.16 ($0.026), compared to RMB 0.19 in 2011.
In 2012, Zhongyuan Special Steel’s average selling prices of main products decreased significantly year on year. For instance, its oil drilling tool prices declined by 12.88 percent, its mandrel bar prices were down by 10.78 percent, its casting tube mold prices declined by 7.24 percent, and its prices of large special steel forging products were down by 8.33 percent, all compared to the average selling prices recorded in 2011.