Shanghai-based Chinese steelmaker Baosteel has announced that its steel business recorded a net loss of RMB 8.45 billion in 2015, while it had recorded respective net profits of RMB 6.09 billion and RMB 3.75 billion for its steel business sector in 2013 and 2014.
However, Baosteel registered an overall net profit of RMB 1.03 billion for 2015, reflecting the major contribution of the company’s non-steel business to its profitability.