China's steel enterprises profits 207.4 billion yuan in 2020, with YoY increase of 6.59%

2021-01-28
|
Michael Liang

China Iron and Steel Association held a press conference in Beijing on the 27th to release information on the operation of the steel industry in 2020, according to Cailian Press.


Preliminary statistics show that in 2020, the sales revenue of key iron and steel enterprises was 470.3 billion yuan, a year-on-year increase of 10.86%; total profits were 207.4 billion yuan, a year-on-year increase of 6.59%; average sales profit margin was 4.41%, a year-on-year decrease of 0.18 percentage points.


Iron and steel companies are optimizing their asset-liability structure, expanding direct financing channels, and their debt levels have declined.


At the end of December 2020, the asset-liability ratio of key steel companies was 62.27%, a year-on-year decrease of 0.18 percentage points.


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