Bayi Steel's 09 profits up

Bayi Steel reported a net profit of 110 million yuan in 2009, up 6.05 percent from the previous year; an operating revenue of 16.45 billion yuan, down 17.88 percent and earnings per share of 0.14 yuan, the same as 2008. The rise in profits was due to the mill's adoption of advanced technologies and management experience, great efforts to cut production costs and tap into consumer markets. This year, Bayi Steel plans to produce 6.2 million tons of crude steel, 5.78 million tons of steel products and accomplish an operating revenue of 19.4 billion yuan.