SGIS Songshan's net profit falls by 47 percent in Q1

In the first quarter of the current year, SGIS Songshan Co., a steelmaking company based at Shaoguan in China's Guangzhou Province, achieved an operating revenue of RMB 5.357 billion ($821.6 million), up 26.95 year on year, with a net profit of RMB 26.57 million ($4.08 million), down 47.27 percent year on year, as stated in the steelmaker's quarterly report released on April 28.