JISCO Hongxing sees YOY gains in 2016 from losses based on profit of more than RMB80 million
2017-03-29 17:49:52 [Print]
According to annual report on Mar 27 released by JISCO Hongxing, the company achieved operating income of RMB35.1 billion in 2016, down by 35.93% YOY; net profit attributable to shareholders of listed companies reached RMB82 million, turning losses of a negative of RMB7.364 million in 2015 into gains.
According to the report, the company improved operation as well as profitability by promoting management efficiency by way of deepening reform, strictly carrying out effective measures to lower cost and enhance efficiency, making more effort in developing new products and strengthening the market mechanism and sieving opportunity when steel prices rebounded during the reporting period. The company’s operation goals in 2017 are pig iron output for 5.5 million tons, steel output for 5.6 million tons (including stainless steel for 1.01 million tons) and steel product output for 6 million tons (including stainless steel product for 0.95 million tons), achieving operating income of RMB22 billion.
Market participants claimed that the company has owned comprehensive capacities of 9 million tons for iron, 10 million tons for steel and 10 million tons for steel products, becoming a comprehensive steel enterprise with strong capacity, excellent equipment and far-reaching influence in Northwestern China and final products include high speed wire rod, rod, plate, coil, stainless steel products etc.
According to the report, the company improved operation as well as profitability by promoting management efficiency by way of deepening reform, strictly carrying out effective measures to lower cost and enhance efficiency, making more effort in developing new products and strengthening the market mechanism and sieving opportunity when steel prices rebounded during the reporting period. The company’s operation goals in 2017 are pig iron output for 5.5 million tons, steel output for 5.6 million tons (including stainless steel for 1.01 million tons) and steel product output for 6 million tons (including stainless steel product for 0.95 million tons), achieving operating income of RMB22 billion.
Market participants claimed that the company has owned comprehensive capacities of 9 million tons for iron, 10 million tons for steel and 10 million tons for steel products, becoming a comprehensive steel enterprise with strong capacity, excellent equipment and far-reaching influence in Northwestern China and final products include high speed wire rod, rod, plate, coil, stainless steel products etc.
