Baoshan Iron & Steel Co., Ltd., the listed arm of China Baowu Steel Group, reaped net profit attributable to shareholders of 7.86 billion yuan ($1.16 billion) in the first three quarters this year, falling 12.86% from the preceding year, according to the firm's third quarter report released on October 30.
It translated to a gain of 0.35 yuan per share, the company said.
Over January-September, the company's operating revenue totaled 200 billion yuan, down 7.77% year on year, the report said.
In the first three quarters, Baosteel produced 32.84 million tonnes of pig iron, 35.31 million tonnes of crude steel and 33.61 million tonnes of commercial steel products, with a combined profit up to 11.12 billion yuan, surpassing the annual guidance, it said.
In third quarter, the company churned out 10.84 million tonnes of pig iron, 11.85 million tonnes of crude steel and 11.29 million tonnes of commercial steel products, earning 5.31 billion yuan.
(Writing by Rebecca Liu Editing by Tammy Yang)
For any questions, please contact us by email@example.com or +86-351-7219322.