Supply exceeds Ji'nan's iron and steel industry
Securities Times reporter Fan Biao
report from the annual report of 2009, Ji'nan iron and steel (600022 shares, market, information, the main business) has reversed the first three quarters of a huge loss of hundreds of millions of decline, but to achieve a small profit, but to In 2010, Ji'nan steel was still careful to recover.
in 2009, the annual operating income of Ji'nan steel was 25 billion 407 million yuan, down 41% compared with the same period in the previous year. The net profit was 70 million yuan, 91% compared with the same period of the previous year, and the earnings per share were 0.0215 yuan per share. Although the performance fell year by year, it was not easy for Ji'nan steel to lose 600 million in the first three quarters. The annual report shows that the main reason for the sharp decline in the company's operating income is the overcapacity in the steel industry and the fierce market competition. The company's sales volume, sales unit price and raw material purchase cost in 2009 have been greatly reduced in the same period of the previous year.
Ji'nan iron and Steel said that 2009 is the most difficult year for China's steel industry since the new century. In this year, under the influence of the global financial crisis, the export of foreign trade is seriously hindered; the negotiations on foreign mines are still passive and the cost pressure is still not small; structural, overcapacity, iron and steel supply oversupply is a normal state of the steel industry. In this year, under the role of the package plan and policy measures launched by the government of China's government, "guarantee growth, expand domestic demand, adjust structure and benefit the people's livelihood", GDP resumed season by season, stimulated steel consumption, stimulated the release of steel industry capacity, and gradually turned profits into losses in iron and steel enterprises, and the steel industry of our country recovered slowly.
in the annual report, Ji'nan iron and steel is expected to increase the price of steel. In 2009, cash flows from business activities decreased by 186.44% over the same period last year. The main reason for Ji'nan iron and steel is to take into account the changes in the market, especially the rising prices of raw materials and steel prices, the company grabbed business opportunities, strengthened the control of resources and accelerated the payment of payment. Ji'nan iron and Steel said that iron ore expected to rise in 2010 has become the industry consensus, coke prices will also enter the rising channel. The prices of major raw and processed fuels such as ores and coal are at a high level. Steel prices are at a low level.
for the recovery of the industry in 2010, Ji'nan steel is still cautious: the prevailing trend of international market trade protectionism and the fundamental improvement of the steel export situation; the high steel inventory, the domestic market will still bear greater pressure on the supply of resources; the state's control of the real estate industry and the international market ring The change of environment has also increased the uncertainty of the steel market trend.