Baoshan Iron & Steel Co. Ltd, one major steelmaker in China, is expected to see a year-on-year growth of 1-6% in 2020 net profit attributable to shareholders, or 100-700 million yuan ($14.71-102.94 million) the company said in a report on January 19.
This will be a positive correction after the company suffered a 12.86% decline in net profit in the first three quarters and a slump of 36.87% in the first half year of 2020, owing to plunging steel demand impacted by the COVID-19 pandemic outbreak early last year.
The net profit attributable to shareholders after deduction of non-recurring losses and gains is also predicted to increase by 1-1.6 billion yuan, a year-on-year rise of 9-15%.
(Writing by Rebecca Liu Editing by Tammy Yang)
For any questions, please contact us by firstname.lastname@example.org or +86-351-7219322.