September 08, 2008

Daye Special Steel net profit in Q1 up by 8.5% YoY

Daye Special Steel announced that its net profit in the first quarter increased by 8.5% YoY to CNY 84.595 million.

Business income in the first quarter rose to CNY 2 billion, increased by 57.08% due to high value added products sales increasing and steel price rising. Business cost climbed to CNY 1.869 billion, rose up 61.54% due to raw materials price rising.