On January 14, Zhejiang Province-based Chinese steelmaker Hangzhou Iron and Steel Group Company (HISGC) announced that in 2013 its sales revenues totaled RMB 102.8 billion ($16.8 billion), compared to the target of RMB 100 billion ($16.34 billion) for the year, while it achieved a net profit of RMB 1.022 billion ($167 million). In 2012, Hangzhou Steel Group had recorded sales revenues of RMB 91.281 billion and a net profit of RMB 803 million.
In 2013, Hangzhou Steel Group's finished steel sales amounted to 3.46 million mt, up 150,000 mt year on year.