Jiangsu Changbao Steel Pipe Co., Ltd. in 2019 semi-annual results forecast that the first half of the year is expected to belong to the shareholders of listed companies net profit of 309.36 million yuan-340.3 million yuan, the same period last year profit of 206.24 million yuan, an increase of 50% to 65% compared with the same period last year. The company's operating performance increased significantly compared with the same period last year, mainly because the company's energy and pipe sector was continuously affected by the warming of market demand in the industry.
With regard to the reasons for the performance changes, the company states that:
During the reporting period, the company's business performance increased significantly compared with the same period last year, mainly because the energy pipe sector of the company was continuously affected by the recovery of market demand in the industry, and the production and sales situation maintained growth, coupled with the effective management measures taken by the management, the company's business situation continued to be stable and good.
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