Daye Special Steel (000708.SZ): operating revenue grew by 16.92% YoY in 2011Q1-Q3

Date:2011-11-09     Source:xuxinxuxin  Text Size:

In the first three quarters of 2011, operating revenue of Daye Special Steel (000708.SZ) reached RMB6.86 billion, up 16.92% YoY; while its operating profit achieved RMB479 million, up 3.83% YoY. In the third quarter, it attained operating revenue of RMB2.32 billion, up 15.34% YoY and 2.12% MoM respectively; while operating profit hit RMB125 million, down 6.57% YoY and 27.3% MoM.

 Currently, Daye’s technological transformation projects successively complete, and its product quality is further improved. Meanwhile, Daye constantly adjusts its product structure to enlarge the proportion of high-end product, by which, it tries to realize unit price rise of steel. 

Projects in Progress of Daye Special Steel

Project

Note

High speed forging of 45MN (35,000 tons)

Production started in 2011H2, it is expected to reach full production by 2014 

High speed forging of 20MN (30,000 tons)

Production started in 2010H2, it is expected to reach full production by 2013 

Precision forging of 16MN (30,000 tons)

Production start in 2012, it is expected to reach full production by 2015

2.5m and 5m Rolling project

It is expected to reach full production by 2013 

 Source: Daye Special Steel; ResearchInChina
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