Hu Wangming, Chairman of the Board of Directors of the Chinese Baowu Group, major Chinese steelmaker in China, has stated that the group recorded operating revenues of RMB 1,103 billion in 2023, a decrease of 4.9% year-on-year, while it recorded gross profit of RMB 31.61 billion for this year. , an increase of 1.05% on an annual basis.
Meanwhile, Baowu Group’s crude steel production reached 130.77 million mt in 2023, down 0.9% compared to last year’s 132 million mt.
