Shagang’s net profit rises by 67 percent in 2018

Wednesday, 06 March 2019 10:32:37 (GMT+3)   |   Shanghai

Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has issued its financial report for 2018, announcing an operating revenue of RMB 14.712 billion ($2.2 billion), up 18.51 percent, and a net profit of RMB 1.177 billion ($0.176 billion), rising by 67.0 percent, both year on year.

Meanwhile, the company stated that it expects to record a net profit of RMB 80.0-120.0 billion ($11.9-17.9 billion) for the first quarter this year, down 53-69 percent year on year.

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