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Baosteel Realizes Big Rise in Net Profit
Baoshan Iron & Steel (600019 SSE), the largest steel producer of China, issued its annual report for 2000 Thursday.
According to the report, the net profit of the company in 2000 amounts to RMB 2.99 billion, increasing by 31 percent compared with that of 1999, which was RMB 2.27 billion. The earning per share is RMB 0.24, and the earnings to net profit ratio is 11.84 percent.
The annual report shows the increase of net profit is attributed to the rise of the prices of steel products and the increase of the sales.
Baosteel to Step in World's Top 500 Within 5 Years
Some Sanghai-based enterprises will strive to secure places in the world's top 500 in the coming five years, revealed the city's five-year plan.
This year, Baosteel will pump 30 billion yuan in several new projects. It will endeavor to become the strongest among the strongest, not only entering the top 500.
Source: Panorama
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