Liaoning Province-based Chinese steelmaker Lingyuan Iron & Steel Co., Ltd. (Lingyuan Steel) has issued its financial report for 2023, stating that its operating revenue amounted to RMB 20.321 billion ($2.9 billion) in the given period, down 5.74 percent year on year, while its net loss totaled RMB 681 million ($96 million), compared to the net loss of RMB 834 million recorded in 2022.
In 2023, Lingyuan Steel produced 5.407 million mt of crude steel, up 6.0 percent year on year. As for 2024, the company plans to produce 5.4 million mt of crude steel, down 0.13 percent compared to 2023.