Wuhan Iron and Steel Co., Ltd (WISCO), having been stripped of steel businesses after the regrouping with Baoshan Iron & Steel Group into China Baowu Steel Group, realized 77.34 billion yuan ($11.41 billion) of operating revenue in 2016, said China Baowu in a report.
WISCO are now mainly engaged in trade logistics and processing, finance, resource utilization and new materials, urban construction and environmental protection, city service and steel industry, said the report.
China Baowu achieved the best performance in domestic steel industry in 2016, and bounced back to the tenth competitive steel firm in the world according to ranking of the World Steel Dynamics (WSD).
The company produced 58.4 million tonnes of steel products in 2016. Its operating revenue reached 309.6 billion yuan last year, while its net profit was 7.03 billion yuan.
(Writing by Tammy Yang Editing by Harry Huo)
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