Liuzhou Iron & Steel Co., Ltd. Provides Earnings Guidance for the First Quarter of 2020
April 13, 2020
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Liuzhou Iron & Steel Co., Ltd. provided earnings guidance for the first quarter of 2020. For the quarter, the Company predicts a decrease of between RMB 208 million and RMB 255 million in its net profit owned by shareholders of the listed company in the 1st quarter of 2020 compared with the same period of the year before, with a year-on-year decrease of between 54.31% and 66.58% (based on the disclosed statistics according to relevant regulations). The net profit belonging to shareholders of the listed company after excluding extraordinary profit and loss will increase by between RMB 210 million and RMB2 57 million compared with the same period of the year before.
Liuzhou Iron & Steel Co Ltd is a China-based company mainly engaged in the production, processing and sales of steel products. The Company's products include cold-rolled coils, galvanized coils, hot-rolled coils, medium and thick plates, ribbed steel bars, high-speed wire rods, round bars, medium-sized bars, and others. The Company's products are widely used in automobiles, home appliances, petrochemicals, machinery manufacturing, energy and transportation, ships, bridges, construction, metal products, nuclear power, electronic instruments, medical equipment, kitchenware and sanitary ware, construction and decoration and other industries. The Company's products are exported to many countries and regions such as Southeast Asia, the United States, Europe and Africa.