Baogang’s net profit increases by 3,188 percent in H1

Friday, 27 August 2021 10:28:11 (GMT+3)   |   Shanghai

Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co., Ltd. (Baogang) has announced that it registered an operating revenue of RMB 39.437 billion ($6.1 billion) in the first half this year, while achieving a net profit of RMB 2.764 billion ($0.43 billion) in the given period, up 3,188 percent year on year.

In the given period, finished steel prices indicated an increasing trend, exerting a positive impact on Baogang’s profitability.

Most Recent Related Articles

Taigang Stainless Steel expects rise of 516.6-553.97 in net profit for Jan-Sept

China’s HBIS expects 98.23-106.85% rise in net profit for Jan-Sept

Sangang Minguang expects 28.16% drop in net profit for Q3

Ansteel’s net profit expected to rise by 466.04 percent in Jan-Sept

MOC: Average steel prices in China move up last week