Baosteel's net profit up by 20 times YOY to RMB588 million
2017-08-25 17:26:00 [Print]
Baosteel (600010) released the semi-annual performance of 2017 on 23rd August, and the company realized RMB21.132 billion of revenue, up by 75.56% YOY, and RMB588 million of net profit, an increase of 2035.53% YOY.
In the first half of the year, the company seized the opportunity of the industry to rebound, vigorously developed high-end target customers and high value-added products, and increased the comprehensive utilization of resources in Bayan Obo with basically stable production of rare earth concentrate and iron concentrate. The company signed a rare earth concentrate supply agreement with China Northern Rare Earth Group, trying to transform resource advantages into economic advantages. The production lines of fluorite concentrates, niobium concentrates and other products are being actively debugged.
PS: The company finished acquisition of Bayan Obo resource comprehensive utilization assets related to rare earth and niobium separation of Baosteel Group Baoshan Mining Co., Ltd. This production line produced 48,400t of rare earth concentrate during May and June (the stocks were 28,600t when the acquisition occurred), and the company has signed a rare earth concentrate supply contract with China Northern Rare Earth Group.
In the first half of the year, the company seized the opportunity of the industry to rebound, vigorously developed high-end target customers and high value-added products, and increased the comprehensive utilization of resources in Bayan Obo with basically stable production of rare earth concentrate and iron concentrate. The company signed a rare earth concentrate supply agreement with China Northern Rare Earth Group, trying to transform resource advantages into economic advantages. The production lines of fluorite concentrates, niobium concentrates and other products are being actively debugged.
PS: The company finished acquisition of Bayan Obo resource comprehensive utilization assets related to rare earth and niobium separation of Baosteel Group Baoshan Mining Co., Ltd. This production line produced 48,400t of rare earth concentrate during May and June (the stocks were 28,600t when the acquisition occurred), and the company has signed a rare earth concentrate supply contract with China Northern Rare Earth Group.
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