<p>Chinese steel giant Baowu Group’s Maanshan Iron & Steel Company produced 18.23 million tonnes of pig iron in 2021, representing a year-on-year decrease of 1.70%, mainly due to the overhaul of a 4,000 cubic meters blast furnace of the Company from 15 September to 9 December 2021. The output of crude steel was 20.97 million tonnes, remaining unchanged year-on-year. The steel output was 20.45 million tonnes, representing a year-on-year increase of 3.04%, reaching a record high of the Group.</p><p>During the reporting period, the Group achieved an operating profit of RMB 7.368 billion, representing a year-on-year increase of 156.99%; a total profit of RMB 7.016 billion, representing a year-on-year increase of 127.72%; a net profit attributable to the shareholders of the listed company of RMB 5.332 billion, representing a year-on-year increase of 168.89%.</p><p>Maanshan Iron & Steel Company Limited is a Chinese listed company which engaged in steel manufacturing. The company is based in Ma'anshan in Anhui province. Since its establishment in 1993, it was controlled by the Chinese governments. However, the indirect parent company was changed to central government owned China Baowu Steel Group in June 2019, after the Group acquired 51% stake of Masteel Group, the direct parent company of the listed company from the Anhui provincial government.</p>
<p>Chinese steel giant Baowu Group’s Maanshan Iron & Steel Company produced 18.23 million tonnes of pig iron in 2021, representing a year-on-year decrease of 1.70%, mainly due to the overhaul of a 4,000 cubic meters blast furnace of the Company from 15 September to 9 December 2021. The output of crude steel was 20.97 million tonnes, remaining unchanged year-on-year. The steel output was 20.45 million tonnes, representing a year-on-year increase of 3.04%, reaching a record high of the Group.</p><p>During the reporting period, the Group achieved an operating profit of RMB 7.368 billion, representing a year-on-year increase of 156.99%; a total profit of RMB 7.016 billion, representing a year-on-year increase of 127.72%; a net profit attributable to the shareholders of the listed company of RMB 5.332 billion, representing a year-on-year increase of 168.89%.</p><p>Maanshan Iron & Steel Company Limited is a Chinese listed company which engaged in steel manufacturing. The company is based in Ma'anshan in Anhui province. Since its establishment in 1993, it was controlled by the Chinese governments. However, the indirect parent company was changed to central government owned China Baowu Steel Group in June 2019, after the Group acquired 51% stake of Masteel Group, the direct parent company of the listed company from the Anhui provincial government.</p>
