Jiangsu Province-based Shagang Group’s listed subsidiary Shagang Co’s operating revenue amounted to CNY 9.688 billion (USD 1.4 billion) in January-June 2022, up 4.4% YoY, while its net profit reached CNY 361 million, down 34% YoY due slackening demand from downstream users amid the Covid-19 pandemic, Russia-Ukraine conflict and global inflation negatively affected the steel industry, which negatively affected the company’s performance.Shagang’ operating revenue has totaled CNY 18.487 billion in 2021, up 28% YoY, while its net profit reached CNY 1.08 billion, up by 66% YoY as it seized market opportunities amid the good performance of the steel industry in the given year, reduced its costs and optimized its marketing strategy, which contributed to the big rise in its net profit.Located in located in Zhangjiagang in Jiangsu Province of China, 47 year old Shagang Group has five steel production enterprises in Jiangsu Province, Liaoning Province and Henan Province. The main products cover all types of ordinary steel, high-quality steel and special steel rebar, wire rods, slabs, and hot-rolled coils, etc. The company rolls out about 23 million tonnes of steel each year, making it one of China's top-five steel producers.Jiangsu Shagang Group, Zhangjiagang City, Jiangsu ProvinceDongbei Special Steel Group, Dalian, Liaoning ProvinceFushun Special Steel, Fushun City, Liaoning ProvinceHuaigang Special Steel, Huai'an City, Jiangsu ProvinceAnyang Yongxing Special Steel, Anyang County, Henan Province
Jiangsu Province-based Shagang Group’s listed subsidiary Shagang Co’s operating revenue amounted to CNY 9.688 billion (USD 1.4 billion) in January-June 2022, up 4.4% YoY, while its net profit reached CNY 361 million, down 34% YoY due slackening demand from downstream users amid the Covid-19 pandemic, Russia-Ukraine conflict and global inflation negatively affected the steel industry, which negatively affected the company’s performance.Shagang’ operating revenue has totaled CNY 18.487 billion in 2021, up 28% YoY, while its net profit reached CNY 1.08 billion, up by 66% YoY as it seized market opportunities amid the good performance of the steel industry in the given year, reduced its costs and optimized its marketing strategy, which contributed to the big rise in its net profit.Located in located in Zhangjiagang in Jiangsu Province of China, 47 year old Shagang Group has five steel production enterprises in Jiangsu Province, Liaoning Province and Henan Province. The main products cover all types of ordinary steel, high-quality steel and special steel rebar, wire rods, slabs, and hot-rolled coils, etc. The company rolls out about 23 million tonnes of steel each year, making it one of China's top-five steel producers.Jiangsu Shagang Group, Zhangjiagang City, Jiangsu ProvinceDongbei Special Steel Group, Dalian, Liaoning ProvinceFushun Special Steel, Fushun City, Liaoning ProvinceHuaigang Special Steel, Huai'an City, Jiangsu ProvinceAnyang Yongxing Special Steel, Anyang County, Henan Province
