Jilin Province-based Chinese steelmaker Shougang Tonggang Group, a subsidiary of Chinese steel giant Shougang Group has announced that in 2011 its sales revenue totaled RMB 26.8 billion ($4.254 billion), increasing by RMB 1.5 billion ($238 million) year on year, while its gross profit for the year amounted to RMB 1.31 billion ($208 million). In addition, Shougang Tonggang Group's net profit totaled RMB 510 million ($80.95 million) in 2011, following net losses in the previous three years.
Meanwhile, in 2011 Shougang Tonggang produced 5.4349 million mt of pig iron, 5.1275 million mt of crude steel and 5.2433 million mt of finished steel, up 14.89 percent, 2.13 percent and 2.28 percent year on year, respectively. Its iron ore output in 2011 totaled 2.5913 million mt, up 7.46 percent year on year.