Shaoguan Iron and Steel Songshan's net profit up by 363.61% in H1 2017
2017-08-01 17:57:15 [Print]
On the night of July 28, Shaoguan Iron and Steel Songshan Co., Ltd. (“Shaoguan Iron and Steel Songshan” or the “Company”) released its interim report. According to the report, in the first half of 2017, the Company's operation revenue rose by 96.02 YOY to RMB11.34 billion, while its net profit attributable to shareholders of the listed company increased sharply by 363.61% YOY to RMB650 million.
The company said during the reporting period, the steel industry saw an improvement in the profitability due to the vigorous promotion of supply side reform and crackdown on the production of inferior rebar. Their Company achieved net profit of RMB650 million in H1 of the year by further reducing costs, adjusting product mix and upgrading products, recording the best ever financial performance.
The company said during the reporting period, the steel industry saw an improvement in the profitability due to the vigorous promotion of supply side reform and crackdown on the production of inferior rebar. Their Company achieved net profit of RMB650 million in H1 of the year by further reducing costs, adjusting product mix and upgrading products, recording the best ever financial performance.
