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How To Handle Private Steel Companies ' Profits Soar 130% In The First Three Quarters
Nov 05, 2018

November 3, the total metallurgical Chamber of Metallurgy released the latest data show that in the first three quarters of this year, the integration of the All-inclusive metallurgical Chamber of Commerce statistics of 160 private steel enterprises to achieve a total sales of 1.92 trillion yuan, an increase of 12% year earlier, net profit of 168.3 billion yuan, a surge of 130%. In addition, the asset-liability ratio was 61.33%, down 8% from a year earlier.

How To Handle Private steel companies ' profits soar 130% in the first three quarters

According to data released by the China Iron and Steel Industry association, the sales revenue of member steel companies in the first three quarters of this year increased by 3.06 trillion yuan, an increase of 14.47% on the same year; profits and taxes of 346.681 billion yuan, an increase of 68.2% year earlier; and total profit of 229.963 billion yuan Sales profit margin basically reached the national scale above the profit margin level of industrial enterprises. In the first half of the year, member steel companies made a net profit of 139.273 billion yuan, a 151.15% jump.

In addition, National Bureau of Statistics data showed that profits across the steel industry rose 71.1% in the first three quarters. Capacity utilization in the steel industry reached 78.1% in the first three quarter, up 2.7% from the same period last year, slightly higher than the national industrial capacity utilization rate of 76.6%, according to the ministry.