Beijing Shougang Company Limited announced its operating revenue for 2011 was 12.516 billion RMB, with 55.15% decrease year-on-year, while its net profit dropped 96.93% to 11.78 million RMB, and the per share profit was 0.004 RMB.
In the first quarter this year, Shougang estimated that it would had 140-160 million RMB loss, while the net profit for the same period of last year was 31.89 million RMB. Affected by the falling steel prices, Shougang CR and wire rod sales prices dipped 12% and 10% respectively than the Q1, 2011.