Baoshan Iron & Steel Co. Ltd. (Baosteel) (600019.CN) announced Thursday that its net profit fell 44.4 percent last year to 5.78 billion yuan (US$954.61 million). The company attributed the decline to weak sales and asset depreciation, but said its debt-to-assets ratio at was below 50 percent at the year-end. Revenue fell 0.62 percent from a year earlier to 190.32 billion yuan, the steelmaker said in a regulatory filing. Earnings per share stood at 0.35 yuan.
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