Date
24 April 2018

Baosteel’s net profit down 57% in Jan-Sept, filing says

Baoshan Iron & Steel Co. Ltd (Baosteel) (600019.CN), China’s top listed steel producer, recorded a net profit of 4.64 billion yuan (US$761.83 million) in the first nine months of the year, down 56.99 percent from a year earlier but up from 3.7 billion yuan in the first half, according to a stock exchange filing on Tuesday. Excluding non-regular items, net profit was up 55.7 percent at 4.67 billion yuan from a year ago. Revenue fell 2.42 percent to 142.26 billion yuan. Separately, Shandong Iron and Steel Co. Ltd. (600022.CN) posted a net loss of 128 million yuan in the first nine months, 1.82 billion yuan less than the same period last year.

– Contact HKEJ [email protected]

TL/AC/CG

 

 

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