China’s leading steelmaker Baosteel posted a net profit of 5.75 billion yuan in 2009, down 10.93 percent year-on-year; an operating income of 148.5 billion yuan, down 25.97 percent; and a basic earning per share of 0.33 yuan. The mill saw huge gains in the third quarter of 2009 by reporting a quarter-on-quarter increase of 23.78 percent in sales revenue, a 477.69 percent increase of operating profits and a 423.34 percent increase of net profits, at 3.04 billion yuan.