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Tonghua Steel sees 12 percent rise in operating revenue in Jan-Sept
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Hebei Province-based Chinese steel producer Tonghua Iron and Steel Group (Tonghua Steel) has released the financial report for September and the first nine months of the current year.
Accordingly, in September Tonghua Steel achieved a net profit of RMB 65.24 million ($10.27 million). Meanwhile, in the January-September period the company's aggregate net profit reached RMB 501.73 million ($79 million), while its operating revenue was RMB 21.07 billion ($3.32 billion), up RMB 2.225 billion ($350.39 million) or 11.81 percent compared to the same period of 2010. Meanwhile, the total industrial output value of the company in the first nine months of 2011 came to RMB 21.7 billion ($3.42 billion), rising by RMB 3.689 billion ($580.94 million) or 20.49 percent year on year.
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