SMM7 March 15: Shougang recently issued a semi-annual performance forecast, the company said it expects to make a profit of 470 million yuan to 520 million yuan in the first half, compared with the same period last year, the expected change range is-53.09% Malaysia 48.10%.
Reasons for performance change
Since the beginning of this year, affected by the overall economic environment and epidemic situation, the price of raw fuel such as iron ore upstream is relatively high, the demand for downstream steel products has weakened, and steel prices have fallen sharply compared with the same period last year. In the face of the severe market situation, the company insists on both epidemic prevention and management. While stabilizing the situation of production and operation, the company increases the optimization of product structure and cost control, but the reduction of cost and efficiency has not completely offset the reduction of profits in the supply and demand market. Operating performance has declined.
The specific financial data will be disclosed in detail in the company's semi-annual report in 2020. Please pay attention to the investment risk.
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