Lingyuan Iron and Steel Co., Ltd.'s net profit increased by 792% in 2017

SMM1 26: January 26, Lingyuan Iron and Steel Co., Ltd. issued its 2017 annual results of the pre-increase announcement. It is expected that the net profit attributable to shareholders of listed companies will increase by 1.061 billion yuan in 2017 compared with the same period last year, an increase of about 792 per cent over the same period last year. Compared with the same period of last year, the net profit of deducting non-recurrent profit and loss belonging to the shareholders of listed companies will increase by 1.072 billion yuan, an increase of about 874% over the same period last year.

The significant increase in the company's operating results in 2017 was mainly due to the impact of its main business:

In the past 1.2017 years, the state has continuously deepened supply-side structural reform, resolved excess capacity, comprehensively banned "strip steel" and environmental protection and limited production, effectively alleviated the contradiction between supply and demand in the steel market, and seen a restorative rise in steel prices. The profitability of iron and steel enterprises has steadily improved.

2. The company gives full play to the advantages of the 2300m3 blast furnace and two 120t converters acquired at the end of 2016, reduces the cost and produces excellent steel, the key indicators have been further optimized, and the output of iron, steel and materials has increased significantly compared with the same period last year, effectively promoting the growth of the company's operating performance.

It is reported that the previous year belongs to the shareholders of listed companies net profit: 134 million yuan, attributed to the shareholders of listed companies deducted non-recurrent profit and loss net profit and loss: 123 million yuan.

Steel enterprise performance report

A number of steel listed companies have released full-year results for 2017. From the current situation, the performance of iron and steel listed companies is outstanding. According to the data, the net profit of Songshan Iron and Steel Co., Ltd. increased more than 23 times in 2017, Liugang's 2017 net profit increased about 12 times, and Anyang Iron and Steel Co., Ltd. increased 11 times and 13 times in 2017. The main reason for the increase in the performance of steel companies is the sharp rise in the average price of steel sales. "View details