Shagang Co., Ltd., based in Jiangsu Province. Shagang announced that its net profit for the period from January to June of this year amounted to 137.0 million yuan ($20.2 million), which is 11.89% less compared to the same period last year.
In the reporting quarter, Shagang's operating revenue amounted to 6.698 billion yuan (0.99 billion US dollars), which is 1.89% less compared to the same period last year.
Faced with a serious and difficult market situation, Shagang adjusted its business strategy and promoted product modernization, increasing the company's profitability in the first six months of this year.
The most important structural point of this semi-annual report is related to the precision gear segment. In the first six months of this year, the operating income from the equipment manufacturing business was 119 million yuan ($17.6 million), representing a sharp increase of 28.37 percent year-on-year, making it the only business segment of the company to achieve high speeds. growth that fully confirms the growth potential of the high-quality components sector.
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