On April 23, Liaoning Province-based Chinese steelmaker Benxi Iron and Steel (Group) Co. (Benxi Steel or Bengang) announced that in 2013 it registered an operating revenue of RMB 40.329 billion ($6.58 billion), down 0.62 percent year on year, while it achieved a net profit of RMB 276 million ($45 million), up 247.27 percent year on year, with earnings per share of RMB 0.088.
As for 2014, Benxi Steel plans to produce 10.05 million mt of pig iron, 10.08 million mt of crude steel, 9.08 million mt of hot rolled coil (HRC), 3.82 million mt of cold rolled coil (CRC), and 0.78 million mt of special steel, while it is aiming to reduce its costs by RMB 940 million ($153.4 million) compared to 2013.
Benxi Steel has at the same time issued its financial report for the first quarter of the current year, indicating an operating revenue of RMB 9.705 billion ($1,58 billion), down 6.04 percent, and a net profit of RMB 116 million ($18.9 million), up 8.47 percent, both year on year.
