Guangxi Province-based Chinese steelmaker Liuzhou Iron & Steel Co., Ltd. (Liuzhou Steel) has issued its financial report for 2024, stating that its operating revenue amounted to RMB 70.132 billion ($9.7 billion) in the given period, down 11.97 percent year on year, while it recorded a net loss of RMB 433 million ($60.1 million), compared to a net loss of RMB 1.012 billion recorded in 2023.
In 2024, Liuzhou Steel produced 11.59 million mt of finished steel, down 9.45 percent year on year.
As for 2025, Liuzhou Steel said it plans to produce 17.0 million mt of finished steel.
According to its financial report for the first quarter of the current year, Liuzhou Steel registered an operating revenue of RMB 17.119 billion, down 14.36 percent year on year, while it posted a net profit of RMB 260 million, up 594.67 percent year on year.
The company stated that the declines in raw material prices and the company’s measures to improve efficiency and reduce costs contributed to the improvement in its profitability in the first three months this year.