Baosteel's business income expected to rise by 80% this year
2017-05-26 16:29:36 [Print]
Baosteel made an announcement yesterday, claiming that “100 days Promotion Plans” of integration of steel business and regional market cooperation in Shanghai and Wuhan processed smoothly. It’s expected that the plan will achieve deep integration within 3 years from this year.
According to the plan, the steel business in Shanghai and Wuhan will achieve a synergy of RMB1 billion this year.
According to annual report of Baosteel, the domestic largest steel producer raised goal of business income substantially and planed to produce 45.22 million tons of iron, 46.19 million tons of steel and 43.94 million tons of steel billet to achieve business income of RMB338.5 billion. However, Baosteel’s total income was RMB185.46 billion. That means growth rate of this year is 82.5%YOY.
Baosteel explained to investors that the most important reason of the rise of business income goal is that the absorption and merger of Baosteel and WISCO.
According to the plan, the steel business in Shanghai and Wuhan will achieve a synergy of RMB1 billion this year.
According to annual report of Baosteel, the domestic largest steel producer raised goal of business income substantially and planed to produce 45.22 million tons of iron, 46.19 million tons of steel and 43.94 million tons of steel billet to achieve business income of RMB338.5 billion. However, Baosteel’s total income was RMB185.46 billion. That means growth rate of this year is 82.5%YOY.
Baosteel explained to investors that the most important reason of the rise of business income goal is that the absorption and merger of Baosteel and WISCO.
