Taigang Stainless, the largest stainless steel producers in China recently released its financial result for the first quarter of this year. In the first quarter of this year, Taigang Stainless realized sales incomes of RMB25.124 billion, rising by 10.97% year on year. Also, its net profits attributed to shareholders totaled RMB255 million, increasing substantially by 37.87% year on year. In the whole of 2012, Taigang Stainless realized sales incomes of RMB103.515 billion, rising by 7.58% from a year ago. However, its net profits attributed the shareholders were at RMB1.106 billion, slumping by 38.74% year on year. Taigang Stainless stated that the slump in net profits in 2012 was caused by sluggish demand and oversupply.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64052&division=A6
