It is reported that Taigang Stainless Steel Company Limited reveals in its annual report 2007 achieving a net profit of CNY 4,248,605,880.72 up by 73.81% YoY.

During the year covered by the report, Taigang Stainless built second coke oven with tallness of 7.63 meter per 90 tonnes extra high power eclectic oven per 180 tonnes RH vacuum oven and CR stainless wide breadth hot rolling line etc and put then into operation. Its CR silicon steel expansion item was also completed and started production to full capacity, making annual capacity up to 400,000 tonnes.

Taigang made pig iron of 7.4081 million tonnes up by 85.6% YoY; steel of 9.293 million tonnes up by 72.27%; stainless steel of 2.0255 million tonnes up by 82.54%. Operating revenue totaled CNY 81.105 billion up by 100.5%; gross profit CNY 5.301 billion up by 57.05%.

Taigang further plans to produce 7.62 million tonnes pig iron 10 million tonnes steel, including 2.6 million tonnes stainless steel and 9.74 million tonnes billet/slab including 2.39 million tonnes stainless semis. It will also issue CNY 4 billion short term financing bills this year to feed production and operation.