Company Profile For Angang Steel Company Limited

Angang Steel Company Limited (0347.HK) (Hong Kong Stock)

sector: Basic Materials · industry: Steel ·

As of 25 Nov 2009

16.32HKD

Price Change

+0.26

Percent Change

+1.62%

Analyst Recommendations

Overview

Angang Steel Company Limited is a steel manufacturer in the People’s Republic of China. The Company’s principal activities include production and sale of steel products, such as hot rolled sheets, cold rolled sheets, galvanized steel sheets, color coating plates, silicon steel, moderately thick plates, wire rods, large steel products and seamless steel pipes. The Company’s products are used in industries, such as automobile, construction, ship-building, home electrical appliances, railway construction and manufacture of pipelines. The domestic market share of the Company’s hot rolled sheets, cold rolled sheets, galvanized steel sheets, color coating plates, silicon steel, medium and thick plates, wire rods, heavy rails and seamless steel pipes are 5.29%, 8.41%, 7.80%, 3.84%, 24.21%, 5.06%, 0.88%, 28% and 3.29%, respectively.

Quick Financial Synopsis

BRIEF: For the nine months ended 30 September 2009, Angang Steel Company Limited's total revenues decreased 22% to RMB49.22B. The Company's net income dropped 96% to RMB330.0M. Total revenues reflect a decline in sales due to weaker market demand and intensive market competition. Net income also suffered from a lower gross profit margin, decreased investment income and significantly increased finance expense.