Jiangsu Province-based Shagang Iron and Steel Co., Ltd, the listed subsidiary of China’s largest private steelmaker Shagang Group, has announced an operating revenue of RMB 6.477 billion ($0.94 billion) for the first half of the current year, up 3.89 percent year on year, and a net profit of RMB 252 million ($36.4 million) for the period, down 11.45 percent year on year.
In the given period, Shagang produced 1.7566 million mt of crude steel, 1.46 million mt of pig iron and 1.6862 million mt of finished steel, up 12.26 percent, 13.48 percent and 12.96 percent, year on year, while it sold 1.682 million mt of finished steel, up 11.31 percent year on year.
Meanwhile, Shagang Group has been actively implementing audit, evaluation and supplementary due diligence for data center operator Global Switch, which is the world’s third-biggest wholesale data center operator. If the restructuring of Global Switch is completed, Shagang’s main operating business will not only cover the steel industry, but also Internet Data Center (IDC) services, which will be very promising for the group.