Accreditation Administration System:
Today,Hebei Iron and Steel Group (HBIS) announced their satisfactory financial result in 2010 January March,the Group achieved operating incoming of 27.643 billion Chinese yuan,up by 37.18 percent over the same period,operating profit of 556 million yuan,up by 1650.90 percent.the same time,the parent company obtained net profit of 405 million yuan,up by 794.86 percent. The earning per share shall be 0.06 yuan.
HBIS commited that they would injected the assets from 53.12 percent equity of Wuyang Iron and Steel
Company and Xuanhua Iron and Steel Company into the listed company within on year after the “Triple Plan”
.Wugang Holds 3 million tons wide heavy steel plate production capacity,and Xuangang holds 6 million tons
production capacity of Carbon structual steel plates.
HBIS cleared the production capacity expansion in the next few years,and the resulting economies of scale
and synergies can be expected.
Information Dept. from Yusheng Steel
