The first half of Wisco's shares earned 960 million yuan

Wisco shares (600005. SH) today announced that the first half of 2010 to achieve operating income of 35.948 billion yuan, up 52%, to achieve the attribution of the parent company net profit of 960 million yuan, earnings per share of 0.12 yuan, up 90%.　　The company announced that the company's profit varieties accounted for an increase of 15% last year, which oriented silicon steel, Hib steel and other cold-rolled products to become a profitable bright spot. It is understood that cold-rolled products benefited from the demand for automotive and home appliances blowout, car panels, C-Class home appliances board production growth of 97.5%, 135.7% respectively.　　In the case of car sales even high innovation, new cold rolling capacity will inject profits to improve the company's new momentum.　　To this end, Wuhan Iron and steel shares will be with the Rui Hu Automotive Mold Co., Ltd. in Dalian bonded joint venture to set up production of automotive stamping parts joint venture, the project investment of about 196 million yuan, with an annual supporting 200,000 car components (small pieces) of production capacity. At the same time, using geo-technical advantages, company wholly-owned subsidiaries will be with Sinopec Wuhan branch in Wuhan Chemical new Area joint venture capacity of 800,000 tons/year ethylene project supporting air separation project, the total investment of about 270 million yuan, the production of oxygen, nitrogen and other industrial gases will supply Sinopec Wuhan branch 800,000 tons/year of ethylene plant, Refining area and downstream chemical new zone use.　　In addition, the company will invest 690 million yuan to upgrade the existing coal tar processing system, after the transformation of the system will reach 500,000 tons of annual processing capacity.　　The announcement said that the company's board of directors recently also decided to adjust the right to raise funds to invest in the decision to withdraw the pellet production facilities of the investment plan, and the relevant funds will continue to invest in Wuhan Iron and Steel (group) company acquisition of some of the main business-related assets and supplementary liquidity projects. However, the company announced today that due to the continued decline in the price of steel in the 7 and 82 months, some of the company's inventories are prepared for 199 million yuan in accordance with the cost and net realizable value of the stock in the current period; This period is based on accounts receivable Aging analysis Method of account receivable to prepare 35 million yuan