November 22, 2008

Xinjiang Bayi Steel expect sure in H1 net profit

It is reported that Xinjiang Bayi Iron & Steel Co Ltd H1 net profit is expected to have risen by over 200% YoY mainly due to surging steel prices and marketing initiatives.

As per report, Xinjiang Bayi Iron & Steel Co Ltd had a net profit of CNY 134.53 million in H1 of 2007 with earnings per share of CNY 0.23.

Xinjiang Bayi Iron & Steel is indirectly controlled by Baosteel Group, parent of Baoshan Iron and Steel Co Ltd.