Metal Products News
- Baosteel posts 80 percent growth in first-half profits
Date: 31-Aug-2007 Sources: (People's Daily)
The Shanghai-listed Baosteel, China's largest steel maker, reported 8.16 billion yuan (1.1 billion U.S. dollars) of net profits in the first half of this year, a growth of 80.21 percent over the same period of last year.
Baosteel's earnings per share averaged 0.47 yuan, up 80.21 percent, according to the company's interim report released on Thursday.
Between January and June, the company invested 9.61 billion yuan on fixed asset. Its share holdings, including stocks of China Life, Ping An Insurance and the Industrial and Commercial Bank of China, valued at 3.13 billion yuan at the end of June, the report said.
In the first half, Baosteel's energy consumption decreased by 8.34 kilograms for one ton of steel. Its sulfur dioxide emission dropped by 19.66 percent and carbon dioxide emission by 47.07 percent, according to the report.
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