Taigang Stainless Steel’s net profit up 534.98 percent in Jan-Sept

Monday, 01 November 2021 13:47:49 (GMT+3)   |   Shanghai

Shanxi Province-based Chinese major steelmaker Taigang Stainless Steel Co., Ltd., the listed subsidiary of Taiyuan Iron and Steel Group, has issued its financial report for the first nine months of the current year, stating that it registered an operating revenue of RMB 74.65 billion ($11.7 billion), and also a net profit of RMB 6.797 billion ($1.06 billion) in the given period, up 534.98 percent year on year.

In the third quarter alone, the company registered an operating revenue of RMB 27.337 billion ($4.3 billion), and a net profit of RMB 2.062 billion ($0.32 billion), up 329.23 percent year on year.

The company said demand for stainless steel improved in the January-September period this year, pushing up prices and resulted in a better operational performance.

Most Recent Related Articles

Qian’an Jiujiang Wire to build over 5 million mt steel capacity under replacement program

Caofeidian’s steel capacity to reach 20 million mt by 2025

China’s coal output rises by 4 percent in January-October

NBS: China’s crude steel output switches to downtrend in January-October

Shandong Province cuts 28 million mt of coal capacity since 2018