May 17, 2008

Laigang outstanding achievement increased by 48% in 2007

It is reported that in 2007, Laigang realized operating income of CNY 32.926 billion, the total profit of CNY 1.577 billion, the net profit vested in parent company reached CNY 1.14 billion up by 22.01% YoY, 34.94% YoY, 48.11% YoY respectively.

Laiwu Steel expressed that the total production of pig iron in 2007 was 5.35 million tonnes, steel was 5.76 million tonnes, and billet material was 6.91 million tonnes. The operating plan and goal in 2008 is to produce pig iron 5.64 million tonnes, steel 6.25 million tonnes, billet material 7.38 million tonnes and to achieve sales revenue CNY 34 billion, the total cost of CNY 32.54 billion.

Laiwu Steel also expressed that in 2008, it will accelerate the strategic adjustment of the product structure, continue to play the role of H-beam guiding the market. It will make effort to construct H-beam, excellent special steel production bases and bar production base.