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Hunan Valin Steel amends profit forecast in 2009
(Xinhua)
Updated: 2010-01-28 14:57
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Hunan Valin Steel Co, one of China's major steel makers, on Thursday amended the forecast of its 2009 net profit and expected it to return to the black.
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The profit rise was attributable to the greater-than-expected rise in domestic steel prices in the last quarter of 2009 and good control of production cost, the statement said.
Valin's shares opened at 6.15 yuan on Thursday, the same as the previous close. It then dipped 1 percent before rising to end at 6.21 yuan at the midday closing.
