Hebei Steel sees declines in net profit in Q1

Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co. Ltd, listed subsidiary of Hebei Iron and Steel Group (HBIS), has issued its financial results for the first quarter of current year, announcing an operating revenue of RMB 21.958 billion ($3.54 billion), down 14.91 percent year on year, and a net profit of RMB 190 million ($30.65 million), decreasing by 16.74 percent year on year.