Laiwu Steel Jigang third quarter big loss profits for high iron ore swallowed up

16th, Jinan Steel, Laiwu Steel shares also disclosed three quarterly, although the two September results were profitable, but because of iron ore and other costs rose faster, the third quarter of both companies have a significant loss of profit. This 1-September, Laiwu iron and steel shares to achieve 28.635 billion yuan revenue, an increase of 42.61%, Jinan Steel's operating income from last year's 18.776 billion yuan to 23.803 billion yuan.　　Benefiting from the rise in steel prices over the same period last year, both achieved a profit in the year before September, of which, Laiwu Steel shares to achieve net profits of 38.68 million yuan, Jinan steel to achieve a net profit of 16.34 million yuan. Although Year-on-year performance is fair, but because of high iron ore prices, the above two steel enterprises in the third quarter of the operating performance was greatly affected. The report shows that 7-September, the net profit of Laiwu Steel shares is 233 million yuan, Jinan Steel's net profit is 187 million yuan. Recently, also because of the high cost of ore, the industry's hualing steel in the first three quarters of the loss reached 1.4 billion yuan.　　It seems that the steel companies that have just emerged from the financial crisis are facing a test again. In fact, the current plight of steel companies has a warning. Jinan iron and steel in the semi-annual report that the rising cost of steel and the domestic market steel price down double squeeze, will seriously affect the economic efficiency of iron and steel enterprises, to bring losses to the serious threat.　　July 15, the state adjusted the export tax rebate policy, 48 kinds of steel products export tax rebate was canceled, steel products exports face greater difficulties. In the third quarterly bulletin, Jigang did not look forward to the reorganization. In early September, the two companies to Shandong Iron and Steel Group Co., Ltd. was informed that the group is planning with the two companies related to major asset reorganization, in order to avoid a significant impact on the share price, the company's shares since September 7 suspension. By yesterday, two stocks had yet to be licensed.　　Prior to August 24, Jinan iron and steel and Laiwu steel shares issued a notice said that the Jinan iron and steel to absorb the merger of the project "expired." Facing the management predicament and the indefinite reorganization, the organization has also produced the different view to the Jinan steel Laigang's prospect. Take Laiwu Steel shares as an example, the company's top ten circulating shareholders in the three quarter big face, the establishment of the optimal allocation of hybrid securities investment funds, HSBC-goldman Sachs and other institutions have disappeared in the top ten shareholders, replaced by the Fortis BANK SA/NV, Huaxia Shanghai 300.