Foundry Daily News

Valin Steel expected to turn profitable in Q2

Valin Steel has reduced loss greatly during the first half and posted a gain in the second quarter. It has gradually walked out of the woods. Now the company is in collaboration with ArcelorMittal on automobile sheets and silicon steel.

Valin will enhance profit-gaining ability from the following aspects
1. Stabilizing manufacturing system
2. Controlling capital expenditure strictly
3. Optimizing corporation’s administration and management
4. Strengthening competitive power by hi tech.

According to semi year report by Valin Steel, it realized a operation revenue of CNY 37.9 billion in the first half up by 36.03%YoY, operating profit loss was CNY 211 million a decline of CNY 322 million YoY, net profit attributable to the listed company shareholders came through a loss of CNY 203 million a decrease of nearly CNY 200 million.

The company realized an EBITDA of CNY 2.4 billion which already hit the prior year aggregate level indicating this company is in a key turning point to back in black.

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