WISCO released three quarterly reports on Monday evening, revealing mixed results for the first nine months of 2013. The company reported a net profit of 651 million yuan, a significant year-on-year increase of 98.44%, with earnings per share reaching 0.064 yuan. This growth was driven by improved operational efficiency and cost control measures implemented throughout the year.
However, despite the positive profit figures, the company's operating income for the same period stood at 66.659 billion yuan, reflecting a slight decline of 0.84% compared to the previous year. According to the report, the drop in revenue was partially offset by a notable rise in non-operating income, primarily due to increased government subsidies received during the period.
Meanwhile, Shagang Co., Ltd. also released its quarterly reports, showing a different trend. In the first three quarters of 2013, the company recorded an operating income of 7.96 billion yuan, representing a year-on-year decrease of 11.78%. However, net profit attributable to listed companies surged by 251.6%, reaching 14.907 million yuan. This improvement was attributed to a modest recovery in steel prices and better cost management.
Shagang’s operating profit for the period reached 21,876,400 yuan, up by 84,344,900 yuan from the previous year. The company cited a slight improvement in market conditions as a key factor, with reduced pressure from falling product prices and rising raw material costs. Although the steel market remained volatile, the company managed to turn a small profit this year.
Looking back at 2012, Shagang faced significant challenges, particularly in the third quarter when sharp declines in steel prices led to substantial losses. To counter these issues, the company implemented cost-cutting strategies and adjusted its product mix in 2013, which helped stabilize operations and maintain profitability.
Based on these improvements, Shagang is now forecasting a positive net profit for 2013, expecting to achieve between 26 million and 33 million yuan, a year-on-year increase of 15% to 45%. The company remains cautiously optimistic about its performance in the coming quarters, as it continues to adapt to the evolving steel market.We are a manufacturer of polishing equipment in China. We produce various polishing waxes, which are used in fully automatic polishing machines, semi-automatic polishing machines, and hand polishing machines. We have liquid wax, water wax, polishing oil, machine polishing wax, solid polishing wax, etc. We can perform rough polishing, medium polishing, mirror polishing, etc. If you need such products, please contact us
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