Laigang Jinan Steel's 2010 profit of 208 million Laiwu Steel is better than that of Jinan Steel

On the 18th and 19th, the two major listed companies of Shandong Iron and Steel Group, Laiwu Steel and Jinan Steel respectively announced their financial statements for 2010, achieving a net profit of RMB 124 million and RMB 84,335,500, an increase of 49.79% and 25.91% respectively year-on-year.

Laiwu Steel Co., Ltd. in 2010 produced 5.21 million tons of iron, 6.56 million tons of steel and 7.73 million tons of steel products. Driven by the increase in the production and sales volume of steel products and the increase in prices, the company achieved operating revenue of 40.291 billion yuan and earnings per share of 0.134 yuan. As of the end of 2010, the company's total assets were 16.798 billion yuan, which was attributable to the parent company's shareholders' equity of 5.976 billion yuan. Laiwu Steel Co., Ltd. stated that in 2011, it will strive to produce 4.8 million tons of iron, 6.65 million tons of steel, and 7.63 million tons of billets, achieving an operating income of 40.6 billion yuan.

The financial report shows that Jinan Iron & Steel achieved operating revenue of 30.741 billion yuan in 2010, an increase of 20.99% over the same period of last year; operating costs were 29.396 billion yuan, an increase of 20.84% ​​over the same period of last year; and net profit growth was also much smaller than that of Laiwu Steel. Its production plan for 2011 is to strive to achieve 8.2 million tons of pig iron and 8.7 million tons of steel, and realize operating income of 37.256 billion yuan.

On February 18, 2011, Jinan Steel and Laiwu Iron & Steel announced at the same time that due to the fact that Shansteel Group is planning major asset restructuring issues related to the company, or involving mergers and Other major non-advance matters, the company's shares will be held on February 18. Suspended from the day. Both companies stated that the company will publish an announcement on the progress of related issues once a week.