China steel producer Shandong Iron & Steel posts 9.47 pct rise in 2018 net profit

JINAN, March 29 (Xinhua) -- Shandong Iron and Steel Co., Ltd., a subsidiary of major Chinese steel producer Shandong Iron and Steel Group, said Friday that its net profit saw a 9.47-percent rise in 2018.

The company's net profit attributable to shareholders reached 2.11 billion yuan (about 314.3 million U.S. dollars) last year, according to its annual financial report filed to the Shanghai Stock Exchange.

Over the same period, the company in east China's Shandong Province saw its revenue reach 55.91 billion yuan, up 16.72 percent year on year.

It produced 9.11 million tonnes of crude iron, 10.31 million tonnes of steel and 10.01 million tonnes of steel products in 2018.

Its shares closed 2.13 percent higher at 1.92 yuan Friday.