Valin Steel’s net profit up 81.06 percent for Q1

Thursday, 29 April 2021 13:39:43 (GMT+3)   |   Shanghai

Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has issued the financial report for the first quarter this year, stating that it realized an operating revenue of RMB 38.596 billion ($5.96 billion) for the given period, up 63.49 percent year on year, while it registered a net profit attributable to the shareholders of the listed company of RMB 2.054 billion ($0.32 billion) in the first quarter, up 81.06 percent year on year.

The company stated that in the first quarter this year it overcame the difficulties caused by the high levels of raw material prices, focusing on efficient production and enhancing research and development, resulting in its best historical performance for a first quarter.

$1 = RMB 6.4715

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