The annual performance of Hongxing of Jiuquan Iron and Steel Co., Ltd. is about 1.121 billion yuan higher than the same period last year, thanks to optimizing production and marketing and controlling costs.

On January 29, Hongxing of Jiuquan Iron and Steel Co., Ltd. issued a pre-increase announcement for 2021 results, which is as follows:

According to the preliminary calculation of the financial department, the net profit attributed to the shareholders of the listed company in 2021 is expected to be about 1.639 billion yuan, an increase of about 1.121 billion yuan, or about 216.53%, compared with the same period last year.

The net profit after deducting non-recurring profits and losses belonging to shareholders of listed companies is about 1.701 billion yuan, an increase of about 1.219 billion yuan, or about 252.91 percent, over the same period last year.

The main reasons for the pre-increase in performance

The overall operation situation of the domestic iron and steel industry in 2021 is good, and the company fully seizes the market opportunity and, on the premise of accomplishing the goal of limiting crude steel production for the whole year, seizes the price cycle to optimize the rhythm of production and marketing, and deepens the fine management and control of costs and expenses. the operating performance improved significantly, and the net profit belonging to the shareholders of listed companies increased significantly during the reporting period compared with the same period last year.

According to Hongxing of Jiuquan Iron and Steel Co., Ltd., the new bell-type furnace project (carbon steel construction and transformation part) in its stainless steel branch has taken seven months since it was officially started on May 20, 2021, and it was successfully completed on December 22, 2021.

According to reports, Jiugang stainless steel new bell-type furnace project (carbon steel new, transformation part) will greatly increase the production capacity of its 400 series stainless steel products, so that the profitability and market competitiveness of Jiuquan Iron and Steel products, please climb another high-rise building.

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