Major Chinese steelmaker Baosteel has announced that it registered an operating revenue of RMB 85.98 billion ($13.0 billion) in the first quarter this year, up 3.78 percent year on year, while posting a net profit of RMB 3.732 billion ($0.56 billion), down 30.41 percent year on year.
In 2021, the company had achieved a net profit of RMB 23.632 billion, up 86.1 percent year on year.
As for 2022, the company plans to produce 46.87 million mt of pig iron, 51.48 million mt of crude steel and 49.75 million mt of finished steel.