The Net Margin of Bengang Steel Plates Has Been Announced of RMB 167 Million for H1

On August 12, Liaoning Province-based Chinese steelmaker Bengang Steel Plates Co., a subsidiary of Benxi Iron and Steel (Group) Co., issued its financial results for the first half of the current year.

Accordingly, in the first half of the year Bengang Steel Plates achieved an operating revenue of RMB 22.5 billion ($3.68 billion), while its net profit amounted to RMB 167 million ($27.28 million), up 15.36 percent year on year.

The net profit for the first half this year is 2.4 times higher than the net profit of RMB 69.379 million ($11.33 million) recorded for the whole year of 2012, due to the net loss incurred in the second half last year.