Valin Steel swings to sharp profit in 2017; NISCO gains nine-fold margin

sxcoal.com Company,  Cost & Profit 2018-02-13 10:18:00


Shenzhen-listed steelmaker Hunan Valin Steel Co., Ltd. made a large profit of 4.12 billion yuan attributable to shareholders in 2017, compared with a loss of 1.055 billion yuan a year ago, showed data in its annual report late January 12.


The company also posted EPS (earnings per share) of 1.3665 yuan in 2017, compared to -0.3499 yuan a year ago.


The company earned 76.51 billion yuan in 2017's business revenue, jumping 53.6% from a year ago.


In 2017, the company produced 17.32 million tonnes of crude steel and 16.66 million tonnes of steel products, both 12% more than the best levels in the history.


On the same day, Nanjing Iron & Steel Co., Ltd. (NISCO) also issued its 2017 annual report, saying it accomplished 3.2 billion yuan of net profit attributed to shareholders, soaring 804.73% on the year.


EPS were reported at 0.7856 yuan in 2017, compared with 0.0893 yuan a year ago.


The company planned to give dividend of 0.5 yuan per 10 shares to each shareholder.


The report also said the company's debt-to-assets ratio declined to 58.77% at the end of 2017 from 80.19% at the year's beginning.


In 2017, NISCO produced 9.85 million tonnes of crude steel and 8.89 million tonnes of steel products.



(Writing by Alex Guo  Editing by Harry Huo)
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