Daye Special Steel's profit increased 34.93% in 2017 compared with the same period last year-Shanghai Metals Market

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Daye Special Steel's profit increased 34.93% in 2017 compared with the same period last year

Translation 09:15:03AM Mar 08, 2018 Source:SMM

SMM3, March 8: Daye Special Steel announced its 2017 results on March 7. the company achieved 10.227 billion yuan in revenue from January to December 2017, up 59.98 percent from the same period last year, and the average revenue growth rate in the iron and steel industry was 51.41 percent. The net profit belonging to the shareholders of listed companies was 395 million yuan, up 34.93% from the same period last year, and the average net profit growth rate of the iron and steel industry was 200.92%. For details, see:

The company's industry for the special steel industry, the main business scope is iron and steel smelting, steel rolling, metal restructuring, calender processing, steel material testing. During the reporting period, there was no change in the company's main business. The company mainly produces gear steel, bearing steel, spring steel, die steel, high temperature alloy steel, high speed tool steel and other special steel, with more than 1800 varieties and specifications. Daye Special Steel Co., Ltd. 2017 Annual report Abstract 2 products are widely used in aviation, aerospace, oil exploitation, construction machinery, automobiles, railways, weapons, chemical, new energy and other industries and fields. The company's leading products bearing steel, gear steel, die steel, mooring chain steel, high-pressure boiler tube billet, heat-resistant alloy and so on have been recognized and accepted by famous enterprises at home and abroad. the products sell well all over the country and are exported to more than 30 countries and regions in the world. In 2017, thanks to the gradual recovery of the global economy and the steady development of the domestic economy, steel consumption in major sectors such as construction, machinery, automobiles, energy, shipbuilding, household appliances and containers has maintained a good growth trend. It has promoted the growth of the overall demand for steel. at the same time, progress has been made in removing production capacity and banning "strip steel" in the domestic iron and steel industry, and environmental protection has been continuously strengthened, creating a good internal and external environment for the smooth operation of the iron and steel industry. Steel prices have recovered and the efficiency of the steel industry has gradually improved. However, the contradiction of overcapacity of domestic iron and steel still exists, the competition for homogenization of iron and steel products is fierce, environmental protection and rising raw material prices continue to increase the production costs of enterprises, and the international environment for steel exports is even more severe. The rivalry between steelmakers remains fierce. In particular, in the special steel industry in which the company is located, although steel prices fluctuate with the general steel, the price elasticity of the special steel is not as high as that of the general steel, and the prices of large quantities of raw materials, alloys, electrodes, energy, and so on have risen rapidly during the reporting period. It brings more challenges to the production of special steel. In the face of the fluctuating special steel market, the company gives full play to its own product varieties, R & D capabilities and production equipment, taking high-end alloy steel bars and high-alloy forgings as brands, in-depth product structure adjustment, deep excavation of internal potential, All the business objectives have been realized in an all-round way, and good economic benefits have been obtained throughout the year.

Reasons for profitability:

In 2017, the domestic iron and steel situation was forcefully promoted by reducing production capacity and banning "strip steel." under the strong impetus of environmental protection measures, the steel market rebounded strongly, steel prices continued to rise, and the entire steel industry made considerable profits. However, the structural contradictions in the iron and steel industry are still prominent, excess capacity still exists, international trade protectionism is on the rise, resistance to steel export growth has increased, environmental protection pressure has increased, and raw material prices have risen sharply. In particular, the company is located in the special steel industry, the price fluctuation of special steel is smaller than that of Pu Steel, but the cost of raw materials has risen by a large margin. In the face of the complex special steel situation, the company grasps the situation, seizes the opportunity, takes the economic benefit as the center, adheres to "increment, improves the quality, creates the efficiency" as the purport, adheres to "promotes the brand" as the main line, innovates the management pattern, Do a good job of lean production, continue to adjust the product structure, hard practice of internal skills, throughout the year to create a better economic benefits.

1. with the sound development of management, the benefit increases rapidly. Seizing the opportunity of a strong recovery in the iron and steel industry, the company's operation and production have shown a good situation, and its economic benefits have reached a relatively high level. the annual operating income and operating cost are 10.227 billion yuan and 9.045 billion yuan, respectively. Compared with the same period last year, it increased by 59.98% and 61.92% respectively. The operating profit was 519 million yuan, up 50.96 percent from the same period last year, and the total profit and net profit were 458 million yuan and 395 million yuan respectively, up 34.49 percent and 34.93 percent respectively from the same period last year. The asset-liability ratio was 38.77 per cent, up 2.45 percentage points from a year earlier; the sales profit margin was 4.48 per cent.

2. innovate the technological route to realize the prosperity of production and marketing. During the reporting period, the company carried out the "production winning Competition, capacity Enhancement to tackle key problems", focusing on the upgrading of the structure of the medium rod line, capacity release, straightening out the production order, and innovating the production process of forged steel instead of heating joint operation. Give full play to the production capacity of each hearth and unit, refine the production organization in all directions and the whole process, and ensure the fulfillment of contracts and product delivery. The company produced 1.1451 million tons of steel for the whole year, up 1.33 percent from the same period last year; 2.047 million tons of steel, up 18.58 percent from the same period last year; 2.0658 million tons of steel, up 20.15 percent from the same period last year; and achieved a steel production and marketing rate of 101 percent.

3. optimize the variety structure and deal with the internal and external markets flexibly. During the reporting period, the iron and steel market fluctuated unusually and the situation was complicated. in the first half of the year, the iron and steel situation began to stabilize and improve. by the second half of the year, the steel market had risen all the way, raw materials had risen in an all-round way, and production costs had increased. Steady progress to carry out business production, the production and sale of steel have a large increase compared with the same period last year; In terms of domestic trade, the month-on-month increase was 10.9%, and the direct supply ratio of domestic trade reached 80.4%, an increase of 6 percentage points over the same period last year. Bar steel, bearing steel, spring steel, free-cutting steel and other varieties of sales increased significantly; The sales volume of high-grade varieties increased significantly compared with the same period last year, the sales volume of railway electroslag bearing steel increased by 33 percent over the same period last year, the high-grade die-cast wind power ball steel maintained the leading domestic product quality and market share, and the development of high-grade hub bearing steel made a breakthrough. The high-end market share of high-end steel for brazing tools is up to 80%. The sales of forgings have been greatly improved, double vacuum products, military steel, gear steel increased significantly, die-casting die increased by 144%, shaft steel with the adjustment of the variety structure, profitability gradually improved. In terms of foreign trade, the prices of large domestic raw and auxiliary materials have soared, resulting in inverted steel prices at home and abroad and increased export pressure. the company optimizes the structure of export products with market demand, ensures efficiency, and avoids price wars among low-end varieties. It has reduced the export of low-end products, moderately reduced sales in Southeast Asia and the Middle East, persisted in opening up new products and new customers for bars in the international market, stabilized sales growth in North America, and passed the product certification and recognition of a number of famous foreign enterprises. Non-quenched and tempered steel, high-grade carburized bearings, and key variety adjustment bars all increased, with exports of steel 363600 tons in the whole year, down 16.74 percent from the same period last year, and the total amount of foreign exchange earned was better than that in the same period last year.

4. market-oriented, independent innovation results are obvious. During the reporting period, the company takes the market as the center, takes the user demand as the drive, pays close attention to the market hot spot and the industry development trend, increases the research and development ability and the technical progress, has effectively promoted the company variety structure optimization. A number of high-end, high-tech content, high value-added varieties were successfully developed, with a total of 280000 tons of new products developed throughout the year. The production and sales of high-grade varieties have continued to grow, and the adjustment of steel structure for auto parts has achieved results. High-grade car gears, crankshafts, transmission shafts, springs and other alloy structural steel through Honda, GM a number of well-known automotive enterprises certification recognition, sales continue to increase; The growth of high-grade die-cast wind power bearing steel ball steel and railway electroslag bearing steel has been steady, and great breakthrough has been made in the performance of steel forgings for deep well drilling tools. Throughout the year, more than 20 products have passed the second and third party certification / re-evaluation, increasing the share of the high-end steel market, further optimizing the variety structure, more characteristic products, and further improving the core competitiveness.

5. adhere to green development and create a harmonious environment. The company continues to do a good job in process optimization, cleaner production, energy saving and emission reduction, constantly promote the cost reduction of the production system, do a good job of key process key indicators, carry out system and process energy conservation, and improve the utilization rate of energy sources. Adopt technological innovation, technical reform of environmental protection equipment, regional environmental quality continues to improve, the company's particulate matter emission concentration is far lower than the national emission standards, plant capacity and plant appearance continue to improve, environmental protection management level continues to improve. Environmental accidents were zero in the whole year.

Key Words:  Steel  rebar  iron ore  steel price 

Daye Special Steel's profit increased 34.93% in 2017 compared with the same period last year

Translation 09:15:03AM Mar 08, 2018 Source:SMM

SMM3, March 8: Daye Special Steel announced its 2017 results on March 7. the company achieved 10.227 billion yuan in revenue from January to December 2017, up 59.98 percent from the same period last year, and the average revenue growth rate in the iron and steel industry was 51.41 percent. The net profit belonging to the shareholders of listed companies was 395 million yuan, up 34.93% from the same period last year, and the average net profit growth rate of the iron and steel industry was 200.92%. For details, see:

The company's industry for the special steel industry, the main business scope is iron and steel smelting, steel rolling, metal restructuring, calender processing, steel material testing. During the reporting period, there was no change in the company's main business. The company mainly produces gear steel, bearing steel, spring steel, die steel, high temperature alloy steel, high speed tool steel and other special steel, with more than 1800 varieties and specifications. Daye Special Steel Co., Ltd. 2017 Annual report Abstract 2 products are widely used in aviation, aerospace, oil exploitation, construction machinery, automobiles, railways, weapons, chemical, new energy and other industries and fields. The company's leading products bearing steel, gear steel, die steel, mooring chain steel, high-pressure boiler tube billet, heat-resistant alloy and so on have been recognized and accepted by famous enterprises at home and abroad. the products sell well all over the country and are exported to more than 30 countries and regions in the world. In 2017, thanks to the gradual recovery of the global economy and the steady development of the domestic economy, steel consumption in major sectors such as construction, machinery, automobiles, energy, shipbuilding, household appliances and containers has maintained a good growth trend. It has promoted the growth of the overall demand for steel. at the same time, progress has been made in removing production capacity and banning "strip steel" in the domestic iron and steel industry, and environmental protection has been continuously strengthened, creating a good internal and external environment for the smooth operation of the iron and steel industry. Steel prices have recovered and the efficiency of the steel industry has gradually improved. However, the contradiction of overcapacity of domestic iron and steel still exists, the competition for homogenization of iron and steel products is fierce, environmental protection and rising raw material prices continue to increase the production costs of enterprises, and the international environment for steel exports is even more severe. The rivalry between steelmakers remains fierce. In particular, in the special steel industry in which the company is located, although steel prices fluctuate with the general steel, the price elasticity of the special steel is not as high as that of the general steel, and the prices of large quantities of raw materials, alloys, electrodes, energy, and so on have risen rapidly during the reporting period. It brings more challenges to the production of special steel. In the face of the fluctuating special steel market, the company gives full play to its own product varieties, R & D capabilities and production equipment, taking high-end alloy steel bars and high-alloy forgings as brands, in-depth product structure adjustment, deep excavation of internal potential, All the business objectives have been realized in an all-round way, and good economic benefits have been obtained throughout the year.

Reasons for profitability:

In 2017, the domestic iron and steel situation was forcefully promoted by reducing production capacity and banning "strip steel." under the strong impetus of environmental protection measures, the steel market rebounded strongly, steel prices continued to rise, and the entire steel industry made considerable profits. However, the structural contradictions in the iron and steel industry are still prominent, excess capacity still exists, international trade protectionism is on the rise, resistance to steel export growth has increased, environmental protection pressure has increased, and raw material prices have risen sharply. In particular, the company is located in the special steel industry, the price fluctuation of special steel is smaller than that of Pu Steel, but the cost of raw materials has risen by a large margin. In the face of the complex special steel situation, the company grasps the situation, seizes the opportunity, takes the economic benefit as the center, adheres to "increment, improves the quality, creates the efficiency" as the purport, adheres to "promotes the brand" as the main line, innovates the management pattern, Do a good job of lean production, continue to adjust the product structure, hard practice of internal skills, throughout the year to create a better economic benefits.

1. with the sound development of management, the benefit increases rapidly. Seizing the opportunity of a strong recovery in the iron and steel industry, the company's operation and production have shown a good situation, and its economic benefits have reached a relatively high level. the annual operating income and operating cost are 10.227 billion yuan and 9.045 billion yuan, respectively. Compared with the same period last year, it increased by 59.98% and 61.92% respectively. The operating profit was 519 million yuan, up 50.96 percent from the same period last year, and the total profit and net profit were 458 million yuan and 395 million yuan respectively, up 34.49 percent and 34.93 percent respectively from the same period last year. The asset-liability ratio was 38.77 per cent, up 2.45 percentage points from a year earlier; the sales profit margin was 4.48 per cent.

2. innovate the technological route to realize the prosperity of production and marketing. During the reporting period, the company carried out the "production winning Competition, capacity Enhancement to tackle key problems", focusing on the upgrading of the structure of the medium rod line, capacity release, straightening out the production order, and innovating the production process of forged steel instead of heating joint operation. Give full play to the production capacity of each hearth and unit, refine the production organization in all directions and the whole process, and ensure the fulfillment of contracts and product delivery. The company produced 1.1451 million tons of steel for the whole year, up 1.33 percent from the same period last year; 2.047 million tons of steel, up 18.58 percent from the same period last year; 2.0658 million tons of steel, up 20.15 percent from the same period last year; and achieved a steel production and marketing rate of 101 percent.

3. optimize the variety structure and deal with the internal and external markets flexibly. During the reporting period, the iron and steel market fluctuated unusually and the situation was complicated. in the first half of the year, the iron and steel situation began to stabilize and improve. by the second half of the year, the steel market had risen all the way, raw materials had risen in an all-round way, and production costs had increased. Steady progress to carry out business production, the production and sale of steel have a large increase compared with the same period last year; In terms of domestic trade, the month-on-month increase was 10.9%, and the direct supply ratio of domestic trade reached 80.4%, an increase of 6 percentage points over the same period last year. Bar steel, bearing steel, spring steel, free-cutting steel and other varieties of sales increased significantly; The sales volume of high-grade varieties increased significantly compared with the same period last year, the sales volume of railway electroslag bearing steel increased by 33 percent over the same period last year, the high-grade die-cast wind power ball steel maintained the leading domestic product quality and market share, and the development of high-grade hub bearing steel made a breakthrough. The high-end market share of high-end steel for brazing tools is up to 80%. The sales of forgings have been greatly improved, double vacuum products, military steel, gear steel increased significantly, die-casting die increased by 144%, shaft steel with the adjustment of the variety structure, profitability gradually improved. In terms of foreign trade, the prices of large domestic raw and auxiliary materials have soared, resulting in inverted steel prices at home and abroad and increased export pressure. the company optimizes the structure of export products with market demand, ensures efficiency, and avoids price wars among low-end varieties. It has reduced the export of low-end products, moderately reduced sales in Southeast Asia and the Middle East, persisted in opening up new products and new customers for bars in the international market, stabilized sales growth in North America, and passed the product certification and recognition of a number of famous foreign enterprises. Non-quenched and tempered steel, high-grade carburized bearings, and key variety adjustment bars all increased, with exports of steel 363600 tons in the whole year, down 16.74 percent from the same period last year, and the total amount of foreign exchange earned was better than that in the same period last year.

4. market-oriented, independent innovation results are obvious. During the reporting period, the company takes the market as the center, takes the user demand as the drive, pays close attention to the market hot spot and the industry development trend, increases the research and development ability and the technical progress, has effectively promoted the company variety structure optimization. A number of high-end, high-tech content, high value-added varieties were successfully developed, with a total of 280000 tons of new products developed throughout the year. The production and sales of high-grade varieties have continued to grow, and the adjustment of steel structure for auto parts has achieved results. High-grade car gears, crankshafts, transmission shafts, springs and other alloy structural steel through Honda, GM a number of well-known automotive enterprises certification recognition, sales continue to increase; The growth of high-grade die-cast wind power bearing steel ball steel and railway electroslag bearing steel has been steady, and great breakthrough has been made in the performance of steel forgings for deep well drilling tools. Throughout the year, more than 20 products have passed the second and third party certification / re-evaluation, increasing the share of the high-end steel market, further optimizing the variety structure, more characteristic products, and further improving the core competitiveness.

5. adhere to green development and create a harmonious environment. The company continues to do a good job in process optimization, cleaner production, energy saving and emission reduction, constantly promote the cost reduction of the production system, do a good job of key process key indicators, carry out system and process energy conservation, and improve the utilization rate of energy sources. Adopt technological innovation, technical reform of environmental protection equipment, regional environmental quality continues to improve, the company's particulate matter emission concentration is far lower than the national emission standards, plant capacity and plant appearance continue to improve, environmental protection management level continues to improve. Environmental accidents were zero in the whole year.

Key Words:  Steel  rebar  iron ore  steel price