On October 26, Inner Mongolia Autonomous Region-based Chinese steelmaker Baotou Iron and Steel (Baogang Group) issued its financial report for the first three quarters of the current year. Accordingly, Baogang Group achieved revenue of RMB 33.102 billion ($5.213 billion) for the period in question, with its net profit amounting to RMB 638 million ($100 million), up 26 percent year on year.
In the first half year of the current year, the company had posted revenue of RMB 21.937 billion ($3.455 billion), while its net profit totaled RMB 366 million ($57.64 million), down two percent year on year.