JISCO Hongxing expects to turn losses into profits in Q1 of 2017
2017-04-12 18:01:24 [Print]
JISCO Hongxing released its preliminary quarterly report on the evening of April 10, 2017. According to the preliminary estimates by the finance department, the company expected to turn losses into profits in Q1 of 2017 and achieve net profit attributable to shareholders of the listed company of around RMB224 million.
The company said that affected by the structural adjustment of supply and demand, steel prices rebounded during the first quarter of 2017 and thus steel mills witnessed an improvement in profit margins. Their company seized the chance to actively deepen the reform, strengthen internal management and improve operational efficiency. As a result, their company’s operating conditions and profitability have been effectively improved and they finally turned losses into profits.
The company said that affected by the structural adjustment of supply and demand, steel prices rebounded during the first quarter of 2017 and thus steel mills witnessed an improvement in profit margins. Their company seized the chance to actively deepen the reform, strengthen internal management and improve operational efficiency. As a result, their company’s operating conditions and profitability have been effectively improved and they finally turned losses into profits.
