Major Chinese steelmaker Baosteel has announced that it has registered an operating revenue of RMB 344.5 billion ($48.5 billion) for 2023, down 6.3 percent year on year, while posting a net profit of RMB 11.944 billion ($1.7 billion) for the year, decreasing by two percent year on year.
In the first three months this year, Baosteel achieved an operating revenue of RMB 80.814 billion ($11.4 billion), up 2.81 percent year on year, while posting a net profit of RMB 1.926 billion ($0.27 billion), up 4.4 percent year on year.
As for 2024, Baosteel plans to produce 49.06 million mt of pig iron and 51.5 million mt of crude steel, aiming to achieve an operating revenue of RMB 330.2 billion. The crude steel production of the company will rise gradually this year as compared to the preliminary result of 51 million mt for 2023. At the same time, finished steel sales may inch up from 51.9 million in 2023 to 52.22 million mt in 2024.