HBIS sees 104.15 percent rise in net profit in Jan-Sept

Monday, 25 October 2021 15:06:23 (GMT+3)   |   Shanghai

Hebei province-based HBIS Company Limited - the listed subsidiary of major Chinese steelmaker Hebei Iron and Steel Group - has announced that its net profit for the first nine months of the current year amounted to RMB 2.369 billion ($0.37 billion), up by 104.15 percent year on year.

In the third quarter alone, its net profit amounted to RMB 848 million ($132.7 million), up by 80.04 percent year on year.

The company said steel prices indicated sharp rises in the given period, resulting in the improvement in its profitability.

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