December 02, 2008

Egang profit in H1 up by 182% YoY

It is reported that Echeng Iron and Steel Company Ltd realized sale income of CNY 6.692 billion in H1 2008 up by 69.11% YoY and profit of CNY 241 million up by 182.16% YoY.

Through product mix adjustment and improving, Egang strengthened the production of high quality and high grade steel, and made progresses on new product development, and improved the product quality.

The company is targeting at a profit of CNY 500 million for 2008.