China Knowledge reported that Taiyuan Iron & Steel Co Ltd a major stainless steel producer in mainland China saw its operating revenue rise 9.01%YoY to CNY 127 billion in 2011.

Mr Gao Xiangming General Manager of the group said that the company pre-tax profit increased by CNY 1.67 billion to CNY 4.9 billion last year.

Taiyuan Iron & Steel produced 9.9 million tonnes of steel last year up by 3.13%YoY. The group's stainless steel output rose 11.03%YoY to 3.02 million tonnes maintaining the position as the world's largest stainless steel maker for the third consecutive year.

This year, the group aims to realize CNY 138 billion of operating revenue and produce 10.84 million tonnes of steel including 3.1 million tonnes of stainless steel.

(Sourced from China Knowledge)