Chinese steelmaker Shougang Steel Group has released its financial report for the first three quarters of 2011. Accordingly, the company's net profit for the period totaled RMB 162 million ($25.6 million), decreasing by 48.13 percent compared to the same period of last year, while the company's earnings per share (EPS) came to RMB 0.0549 ($0.0087).
In the third quarter, Shougang Steel suffered a net loss of RMB 143 million ($22.6 million), compared to the net profit of RMB 248 million ($39 million) in the second quarter of this year.
Meanwhile, the company's operating income in the January-September period was RMB 9.5 billion ($1.5 billion), down 55.68 percent year on year.