The first 2013 annual report of the steel industry was officially released on the evening of June 19. As the first listed company to surrender “reportsâ€, the annual financial data disclosed by Daye Special Steel shows that in 2013, the company realized operating income of 7.44 billion yuan, a year-on-year decrease of 8.43%; net profit attributable to the shareholders of the listed company was RMB 202 million, a year-on-year decrease of 7.59%; net profit attributable to shareholders of listed companies net of non-recurring gains and losses was RMB 196 million, a year-on-year increase of 18.3%.
For the slight decline in performance, Daye Special Steel stated that this was mainly due to the drop in the company’s product prices. However, the company stated that since 2013, the economic recovery in Europe and the United States has been slow, the currencies of emerging economies have continued to depreciate, and the global trade in steel products has increased; the domestic steel industry has not changed its trend of high production, high costs, low prices, and low profitability. low. Under the severe market situation, the company further strengthened the core competitiveness construction, “taking the market as the leader and the customer as the centerâ€, firmly grasping the existing advantages, deepening the reform and innovation, accelerating the pace of product structure adjustment, and continuously developing new products and new products. The customer has made new progress in product, technology, market, management innovation and other aspects, and the production and operation have achieved better than the industry-level performance.
It is worth mentioning that Daye Special Steel also disclosed the dividend plan in its annual report: In 2013, the company's profit distribution plan was to allocate 2 yuan in cash for every 10 shares, and no capital reserve was converted into share capital.
According to the statistics of the reporter, as of June 19, except for Daye Special Steel, 22 listed steel companies in the two cities have issued performance forecasts, of which 4 have increased in advance, 4 have increased slightly, 9 have turned losses, and 3 have lost money. Two consecutive losses. In addition, Bayi Iron & Steel, Liugang Steel and Baosteel have announced earnings reports. Among them, Bayi Iron & Steel’s 2013 performance turned profitable, achieving a net profit of 0.33 billion yuan, compared with -0.26 billion yuan in the same period of last year; Liugang Steel achieved a net profit of 225 million yuan in 2013, an increase of 83.19%; Baosteel The net profit of the shares was 5.781 billion yuan, a decrease of 44.35% year-on-year. In other words, on the whole, over 80% of listed companies achieved positive net profits in 2013.
It should be pointed out that although many listed steel companies that were in a loss-making quagmire in 2012 appeared to have turned a blind eye in performance in 2013. However, when we examine its financial data, we can often find that these steel companies are still unsatisfied with their operating conditions. The so-called recovery of performance depends on various types of subsidies or assets on the books.
If Linggang is expected to achieve a net profit of more than RMB 40 million in 2013, it will lose money on a year-on-year basis. Subsidies from the government are very important to the company’s turning losses. According to statistics, in January, June and August 2013, Linggang Group received a total of up to 380 million yuan in financial subsidies from various governments. Another example is that last year's huge loss of nearly 4 billion yuan in the industry, "Losing King," Ma Steel shares have also forecast 2013 profit turnaround. In August last year, Maanshan Iron & Steel Co., Ltd. issued an announcement that it will spin off some of its non-steel assets and sell it to its major shareholder, Magang Group, at a price of over 3.8 billion yuan and a premium of 918 million yuan. Obviously, this asset transaction also played a decisive role in Maanshan Iron and Steel's turning losses.
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