Hangzhou Iron and Steel Co., Ltd. expects profit to rise 146.62% in 2017 from a year earlier-Shanghai Metals Market

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Hangzhou Iron and Steel Co., Ltd. expects profit to rise 146.62% in 2017 from a year earlier

Translation 01:32:54PM Jan 31, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM1: recently, Hangzhou Iron and Steel Co., Ltd. released its 2017 earnings forecast, which is expected to increase the net profit attributable to shareholders of listed companies by 1.063 billion yuan in 2017 compared with the same period last year, an increase of about 146.62 percent over the same period last year. The net profit attributable to shareholders of listed companies after deducting non-recurrent gains and losses will increase by 11.05%, or 189.86%, compared with the same period last year (legally disclosed data).

Net profit attributable to shareholders of listed companies: 725 million yuan. Net profit attributable to shareholders of listed companies after deducting non-recurrent gains and losses: 582 million yuan

The main reasons for the pre-increase in performance in the current period

(1) the impact of the main business. In 2017, the supply-side reform of the iron and steel industry showed that the price of the company's iron and steel products rose, the profit space expanded; at the same time, the company continued to implement the "low-cost, high-efficiency" business strategy, the implementation of fine management has achieved good results.

(2) the impact of non-operating profits and losses. In the current period, the proceeds from the disposal of non-current assets totaled 6 million yuan, and 85 million yuan of government subsidies were received to take into account the profits and losses of the current period, and the capital occupation fees charged to non-financial enterprises for the profits and losses of the current period were 14 million yuan. The income of entrusted financial management is 30 million yuan, and the net non-recurrent loss attributed to the owner of the parent company is about 101 million yuan.

Key Words:  Steel  rebar  iron ore  steel price 

Hangzhou Iron and Steel Co., Ltd. expects profit to rise 146.62% in 2017 from a year earlier

Translation 01:32:54PM Jan 31, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM1: recently, Hangzhou Iron and Steel Co., Ltd. released its 2017 earnings forecast, which is expected to increase the net profit attributable to shareholders of listed companies by 1.063 billion yuan in 2017 compared with the same period last year, an increase of about 146.62 percent over the same period last year. The net profit attributable to shareholders of listed companies after deducting non-recurrent gains and losses will increase by 11.05%, or 189.86%, compared with the same period last year (legally disclosed data).

Net profit attributable to shareholders of listed companies: 725 million yuan. Net profit attributable to shareholders of listed companies after deducting non-recurrent gains and losses: 582 million yuan

The main reasons for the pre-increase in performance in the current period

(1) the impact of the main business. In 2017, the supply-side reform of the iron and steel industry showed that the price of the company's iron and steel products rose, the profit space expanded; at the same time, the company continued to implement the "low-cost, high-efficiency" business strategy, the implementation of fine management has achieved good results.

(2) the impact of non-operating profits and losses. In the current period, the proceeds from the disposal of non-current assets totaled 6 million yuan, and 85 million yuan of government subsidies were received to take into account the profits and losses of the current period, and the capital occupation fees charged to non-financial enterprises for the profits and losses of the current period were 14 million yuan. The income of entrusted financial management is 30 million yuan, and the net non-recurrent loss attributed to the owner of the parent company is about 101 million yuan.

Key Words:  Steel  rebar  iron ore  steel price