On March 22, Henan Province-based Chinese steelmaker Anyang Iron and Steel Group Co. issued its financial results for 2012.

In 2012, Anyang Steel achieved an operating revenue of RMB 20.951 billion ($3.3 billion), down 29.62 percent on year-on-year basis and below the targeted figure of RMB 31.9 billion ($5.1 billion), while the company suffered a net loss of RMB 3.498 billion ($558 million), registering a net loss for the first time. In 2012, the company’s sales revenue decreased by RMB 8.7 billion ($1.4 billion) year on year.

In addition, in 2012 Anyang Steel produced 5.5947 million mt of pig iron, lower than its output target of 8.2 million mt for the year in question. Meanwhile, its outputs of crude steel and finished steel in 2012 were 5.4455 million mt and 5.2614 million mt respectively, also lower than its production targets of 8 million mt of crude steel and 7.1 million mt of finished steel for the given year.

Anyang Steel plans to produce 7.75 million mt of crude steel, 8.3 million mt of pig iron and 6.7 million mt of finished steel in 2013. Meanwhile, in 2013 the company expects to achieve an annual sales revenue of RMB 26.8 billion ($4.3 billion).