Shougang Group stops loss and sees profit of over RMB450 million in Q1 2017
2017-04-18 18:00:17 [Print]
Shougang Group (the “group”) released its Q1 2017 report on the evening of 14th. The group stopped loss and achieved net profits belonging to shareholders of listed companies of RMB450-500 million in Q1 2017.
The group stated that steel products market environment in Q1 was better than that of last year and prices for steel products increased year-on-year affected by improved supply-demand relationship as well as driven by upstream production costs. At the same time, the company successfully made internal restructuring, reduced production costs and increased extraction efficiency, with their profitability further strengthened, resulting in strongly improved financial performance.
The group stated that steel products market environment in Q1 was better than that of last year and prices for steel products increased year-on-year affected by improved supply-demand relationship as well as driven by upstream production costs. At the same time, the company successfully made internal restructuring, reduced production costs and increased extraction efficiency, with their profitability further strengthened, resulting in strongly improved financial performance.
