Ansteel expects a YOY increase of about 500% in net profits for H1 2017
2017-07-14 17:34:11 [Print]
On the evening of July 13, Ansteel (000898) announced that its net profits for the first half of 2017 are expected to rise by about 500% YOY to about RMB1.823 billion, in comparison to the net profits of RMB300 million in the same period of 2016.
The company attributed the dramatic increase in its net profits to the facts: during the reporting period, conditions in the steel market bettered and the company took this opportunity to enhance its efforts in adjusting product structure and to strengthen its sales work; it tried to cut raw material purchasing costs by making procurement at proper time and by purchasing both in the futures and spot markets; it strove to cut production costs by enhancing internal management; and finally, it strengthened its expense management by giving more expenditure breakdowns.
The company attributed the dramatic increase in its net profits to the facts: during the reporting period, conditions in the steel market bettered and the company took this opportunity to enhance its efforts in adjusting product structure and to strengthen its sales work; it tried to cut raw material purchasing costs by making procurement at proper time and by purchasing both in the futures and spot markets; it strove to cut production costs by enhancing internal management; and finally, it strengthened its expense management by giving more expenditure breakdowns.
