In the third quarter, Changbao Steel Tube saw an operating revenue of RMB 941 million ($150.82 million), down 10.39 percent, while its net profit totaled RMB 64.16 million ($10.28 million), down 8.88 percent, both year on year. Meanwhile, in the first three quarters, Changbao Steel Tube’s operating revenue amounted to RMB 2.62 billion ($419.9 million), down 2.41 percent, while its net profit was RMB 156 million ($25 million), decreasing by 2.58 percent, both compared to the corresponding period of the previous year.
The company also predicted that its net profit for the whole of the current year will be in the range of RMB 184-253 million $29.49-40.55 million), compared to RMB 230 million ($36.86 million) last year.