Benxi Iron & Steel to turn a profit of RMB660 million in 2016
2017-01-25 11:00:10 [Print]
Benxi Iron & Steel (Group) Co., Ltd. announced in late 24 January that the company is expected to gain a profit of RMB660 million instead of suffering a loss in 2016. The loss in 2015 was about RMB3.29 billion.
The company stated that it formulated scientific management policies in 2016, stabilized selling channels by completing technology innovation and reduced purchasing cost and internal consumption, bringing some benefit to the company. In addition, as the domestic steel products market presented a rebounding, steel prices increased and also created some advantages to the company. It is expected that the company will make a profit instead of suffering a loss in 2016.
The company stated that it formulated scientific management policies in 2016, stabilized selling channels by completing technology innovation and reduced purchasing cost and internal consumption, bringing some benefit to the company. In addition, as the domestic steel products market presented a rebounding, steel prices increased and also created some advantages to the company. It is expected that the company will make a profit instead of suffering a loss in 2016.
