Baosteel's Listed Arm Had Declines in Revenue, Net Profit in 2014

(Beijing) – Baoshan Iron & Steel Co. Ltd., a listed subsidiary of the country's largest steelmaker, Baosteel Group Corp., saw declines in both revenue and net profit last year, its financial report says, as iron ore prices nearly halved.

The listed firm had revenue of 187.41 billion yuan last year, down 1.2 percent from 2013, and the net income was 5.79 billion yuan, down 0.45 percent, according to a financial report published on March 26.