Taiyuan Steel's 9-month Profit Skyrockets

Taiyuan Iron and Steel expected a 27- to 27.5-fold rise in its net profits during the first three quarters of this year, to 0.99 billion to 1.00 billion yuan. Its earnings were 0.173 yuan to 0.176 yuan per share.

Third quarter net profits were 175 million to 192 million yuan, down 73.13 percent to 75.58 percent year-on-year; and earnings per share were 0.031 yuan to 0.034 yuan.

The PB valuation of steel shares as a whole in the A-share market is at the relatively low level of roughly 1.5 times, compared to the three times of the whole stock market.