26
Feb
07:23
Sangang Minguang posts higher revenue but lower profit
Fujian steelmaker Sangang Minguang's 2019 performance report released on 25 February shows rising revenues but falling profits.
The company's total operating income was CNY 45.5 billion ($6.48 billion), an increase of 25.5% year-on-year. However, profit attributable to shareholders fell by -43.5% y-o-y to CNY 3.676 billion, Kallanish notes.
The company's operating income in 2019 achieved rapid growth, Sangang says, due to an increase in…
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Very good overview of the weekly steel market.
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