Hebei Province-based Chinese steelmaker HBIS Company Limited has announced that its net profit amounted to RMB 638 million ($94 million) in the January-June period this year, up 6.61 percent year on year.
In the given period, HBIS Company registered an operating revenue of RMB 65.878 billion ($9.7 billion), down 0.65 percent year on year.
In the first six months, HBIS Company's outputs of pig iron, crude steel and finished steel amounted to 16.98 million mt, 16.44 million mt and 15.21 million mt, up 3.0 percent, 4.5 percent and 5.9 percent, year on year, respectively.
In the first half of the current year, China's output of crude steel totaled 499.95 million mt, decreasing by 3.0 percent year on year. Against this backdrop, HBIS Company's crude steel production increased by 4.5% year-on-year, while it concentrated its resources on higher value-added products. For instance, sales of high-strength steel for home appliances and ultra-high-strength automotive sheet products increased, while revenue from long products such as bars, sections, and wire rods also posted growth of over 20 percent. Through this strategy of "marketing-driven efficiency" and product mix optimization, the company achieved year-on-year improvements in both its average selling price and steel gross margins, even as production volumes expanded.
