Financial Markets
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks

Company - Domestic
 Search News  Or
Baotou Steel Rare-Earth sees 6.27-fold rise in H1 net profit

Aug. 3, 2010 (China Knowledge) - Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co Ltd<600111> announced today that its net profit for the firs half of this year surged 626.77% year on year to RMB 354 million.

The company said in its interim report that its operating revenue rose 157.33% year on year to RMB 2.33 billion in the first six months.

The Shanghai-listed company attributed the robust growth in net profit to rising prices of rare-earth products and higher profit margin.

Baotou Steel Rare-Earth also announced plans to invest RMB 232 million in three rare-earth companies to expand its rare-earth business in South China.

The company will invest RMB 73.87 million to buy a 48% stake in a rare-earth enterprise in Ganzhou, Jiangxi Province, contribute RMB 89.21 million to set up a 49:51 joint venture with a Ganzhou-based company and spend RMB 69.34 million to buy a 9.25% stake in another Ganzhou-based firm that aims to go public within three years.

Copyright © "2013"

Send feedback or comments to:

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services
 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved