Inner Mongolia Autonomous Region-based Baotou Steel has announced its financial results for the first half of 2007.
Accordingly, the sales revenue of the Chinese steelmaker totaled RMB 9.16 billion ($1.21 billion) for the first six months of the year, up 10.83 percent year on year. Meanwhile, the net profit of the company rose to RMB 454 million ($59.8 million), marking an increase of about 46 percent year on year, while the company's earnings per share increased to RMB 0.13 ($0.017) in the same period.
Among all its products, Baotou Steel registered the highest gross profit margin for seamless tubes. The profit margin for this product in H1 2007 was 14.55 percent, up 6.79 percentage points compared to H1 2006.