“A little beyond the expected performance of Letters.” January 17, in the acceptance of “International Finance News” interview, the joint metal mesh analyst Hu Yanping told reporters, “If the time on the beginning of last year, then I would never have thought that Baosteel will have a relatively good performance. “
1 15, the industry leader Baosteel announced the results of Letters, 2009, Baosteel total revenue 148.536 billion yuan, down 25.97 percent year on year; net profit of 5.753 billion yuan, down 10.93%, earnings per share 0.33 element.
The obvious contrast between the second half of
This Baosteel announced in August last year, in sharp contrast to semi-annual report. Data, January to June last year, Baosteel net profit of 669 million yuan, a decrease of 92.77 percent year on year.
“Opportunities will always be those who are prepared. Who would have thought in 2009, China’s auto industry have such rapid growth?” For the contrast, Hu Yanping said. In her view, in addition to a gradual improvement in the macroeconomic environment, the rapid development of China’s automobile industry is a substantial improvement in performance of the main reasons for Baosteel. In addition, Baosteel has been related products of high quality varieties for the market to win favor, and further enhance its profitability.
In commercial circulation Productivity Center Wing Leung from three analysts He analyzes the reasons for Baosteel rebound performance. “First of all, the second half of last year, a slight improvement in China’s steel exports, the international market gradually pick up, international steel prices rebounded. Second, the domestic key projects started in the second half of the gradual increase, the domestic construction market demand pick up, cars, home appliances, etc. industry in good condition, increasing financial input, plate and other markets also significantly warmer, with the attendant, Baosteel orders began to increase. In addition, the frequency is around the ground, led by the king, the real estate market hot, steel demand is also important factor. “
Industry profits may not be bad
However, as of this writing, in addition to Baosteel, the other listed steel companies have not announced full year results Express.
“Has been gradually released from the monthly earnings situation of steel enterprises, in 2009, domestic steel companies will have a considerable part of the business losses, but the fourth-quarter loss as industry conditions have improved, some companies will be profitable. “He Rong Liang predicted,” One of the plates to protect corporate profits will have some. But overall, the steel industry or to the low profit level. If and coal, non-ferrous metals compared to other industries that profit margins may be more lower. “
Said Hu Yanping, compared to first half of 2009, domestic steel prices in the second half of the overall upward, the role of macroeconomic factors such as continued warming, the listed steel company’s overall profitability may be further to the good. SABUNG AYAM