Chongqing Steel’s net profit rebounds in Q3, sales volumes up

Wednesday, 28 October 2020 10:48:30 (GMT+3)   |   Shanghai

Chinese steelmaker Chongqing Iron & Steel Co., Ltd (Chongqing Steel), the listed subsidiary of China Chongqing Steel Group, has announced that in the January-September period this year it registered an operating revenue of RMB 17.846 billion ($2.7 billion), up 3.95 percent year on year, and a net profit of RMB 370 million ($55.1 million), down 48.56 percent year on year.

In the third quarter this year, it registered an operating revenue of RMB 7 billion ($1.04 billion), up 22.8 percent quarter on quarter, and a net profit of RMB 250 million ($37.2 million), up 108.3 percent quarter on quarter.

The company’s steel sales in the first nine months this year indicated a year-on-year rise of 7.21 percent, contributing to the increase in its operating revenue in the given period.

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