News Column

Steelmakers H1 Performance Polarized Further

August 28, 2014

SHANGHAI, August 28, SinoCast -- Data by Wind Info shows 21 mainland China-listed steelmakers had released financial results for the first half of 2014 by August 27 and among them, five suffered loss, with SGIS Songshan (SZSE: 000717) ranking No.1 with CNY 736 million. 16 ones made money, with industrial leader Baoshan Iron and Steel (SHSE: 600019) ranking No.1 with net profit of about CNY 3.15 billion. Aggregate net profit of the 21 firms was about CNY 3.15 billion, too. Among the 16 profit-making firms, 10 saw net profit exceed CNY 100 million. That of some of the rest even was only several million Chinese yuans, taking government subsidies into consideration.

Most steelmakers actually lost money in recent years not considering investment and other earnings.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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