Baosteel’s Net Profit for 1H Decreases by 1.0% to 3.3 Billion CNY

摘要

According to the financial results for the 1st half of 2015 of China’s Baoshan Iron & Steel (Baosteel), its revenuewas 80,771 million CNY, largely down 17.2% from the same period last year due to a decrease in production and saleassociated with decreased domestic demand and a fall in steel prices, and its operating profit was 4,428 million CNY,remaining at a decrease of 1.6% ditto, which was contributed by cost reduction and was 2.7 times of the averageoperating profit of 1,640 million CNY by domestic major and mid-sized steel mills.