Jiuquan Steel net profits in the H1 down by 87pct YoY
Tuesday, 01 Sep 2009
Gansu Jiu Steel Group Hongxing Iron & Steel Co Ltd has announced mid term earnings report recently.
The release said Jiuquan Steel has basically finished the production tasks in the H1 with the output of pig iron at 2.58 million tonnes up by 48.77% YoY, crude steel at 2.8 million tonnes up by 50.02% YoY and steel products at 1.85 million tonnes by 53.02% YoY.
The company has realized CNY 12.13 billion of major business incomes down by 27.02% YoY and CNY 81.54 million of operating profits down by 80.78% YoY. The net profits belongs to the parent company was posted at CNY 42.324 million down by 87.29% YoY due to low steel prices.
