Hebei Iron & Steel released an interim report on Thursday evening. From January to June 2012, the company earned 393 million yuan, a decrease of 60.18% year-on-year, and an earnings per share of 0.04 yuan.
From January to June, the company realized total operating revenue of 59.688 billion yuan, a decrease of 15.79% year-on-year.
The company said that during the reporting period, despite the company's dedication to fine management, product variety structure, cost reduction and efficiency improvement, due to the continuing downturn in the steel market, the sales price of steel products has fallen sharply year-on-year, while raw material prices have remained high, resulting in the company’s profitability. The year-on-year decline has been dramatic.
The company expects to profit from RMB 519 million to RMB 130 million from January to September 2012, a year-on-year decrease of 60%-90%.
From January to June, the company realized total operating revenue of 59.688 billion yuan, a decrease of 15.79% year-on-year.
The company said that during the reporting period, despite the company's dedication to fine management, product variety structure, cost reduction and efficiency improvement, due to the continuing downturn in the steel market, the sales price of steel products has fallen sharply year-on-year, while raw material prices have remained high, resulting in the company’s profitability. The year-on-year decline has been dramatic.
The company expects to profit from RMB 519 million to RMB 130 million from January to September 2012, a year-on-year decrease of 60%-90%.
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