Baosteel announced it had an operating revenue of 148.53 billion yuan last year; a gross profit of 7.29 billion yuan, down 10.5 percent; an attributable net profit of 5.81 billion yuan, down 9.95 percent; a basic earnings per share of 0.33 yuan, down 9.95 percent and a weighted average return on equity of 6.27 percent. Baosteel sold 22.43 million tons of steel products and billet, down 1.6 percent.

The mill accomplished 17.76 billion yuan in fixed assets investment last year and will spend 19.55 billion yuan this year on a silicon steel project, the Luojing project, the relocation program for Lubao Pipe and technical updates. This year Baosteel plans to produce 23.49 million tons of pig iron, 26.39 million tons of steel, sell 24.99 million tons of steel products and billet, obtain an operating revenue of 170 billion yuan, and an operating cost of 148.1 billion yuan.