Shougang, Baotou Steel Unveil Q3 Results

As their operating cost growth outpaced revenue growth, Shougang and Baotou Steel reported a year-on-year decline in their net profit and earnings in the third quarter. Shougang's net profits and earnings per share were 239 million yuan and 0.0807 yuan, down 24.84 and 24.86 percent respectively.

Baotou Steel's net profits and earnings were 130 million yuan and 0.0202 yuan, down 96.9 percent and 71.14 percent respectively.