SteelOrbis Shanghai
The revenues and profits of the Chinese steel companies listed on the Shanghai Stock Exchange have increased greatly because of the jump in steel prices and steel outputs. In the first half of 2007, the 34 listed Chinese steel companies registered a total turnover of RMB 436 billion ($57.748 billion), up 41.7 percent year on year; their total net profit was up 85.1 percent to RMB 29.6 billion ($3.921 billion), while their weighted-average earnings per share rose 65.1 percent year on year to RMB 0.374 ($0.0495).
In January-June 2007, the increases in the net profits of Taiyuan Stainless Steel, Nanjing Steel, Benxi Steel Plates, Wuhan Steel, Baosteel and Angang were respectively 305 percent, 263 percent, 200 percent, 161 percent, 86 percent and 58 percent, as compared to the corresponding period last year.
In the first half of 2007, the average profit margin from main operations for the 34 companies was 15.5 percent, up 3.1 percent over the same period of last year. There were no loss-making companies among the thirty-four listed steel companies, whereas during the same period last year three companies of them were in the red.