Jiangxi Province-based Chinese steelmaker Fangda Special Steel Technology Co., Ltd. (Fangda Special Steel) has issued its financial report for 2023, stating that its operating revenue amounted to RMB 26.507 billion ($3.7 billion) in the given period, down 15.75 percent year on year, while its net profit totaled RMB 689 million ($97 million), down 35.16 percent year on year.
According to the company, the high prices of imported iron ore in 2023 negatively affected its net profit.