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Shougang Century Announces 2021 Interim Results

indie
4 minutes

HONG KONG, Sep 2, 2021 - (ACN Newswire via SEAPRWire.com) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2021 ("the Reporting Period").During the Reporting Period, the Group recorded a revenue from continuing operations of approximately HK$1,283,336,000 (2020: HK$862,997,000), representing an increase of approximately 48.7% as compared with the last corresponding period, primarily attributable to the material increase in sales volume of steel cords. Gross profit from continuing operations increased by 48.5% over the same period last year to HK$226,886,000 (2020: HK$152,758,000). The Group's net profit during the Reporting Period also increased by 45.7% from same period last year to HK$52,256,000 (2020: HK$35,863,000). Net asset value of the Group was HK$1,719,423,000 at 30 June 2021, increased by 4.5% as compared to HK$1,645,571,000 at 31 December 2020. The increase in net asset value was mainly due to the net profit during the first half of 2021. Net asset value per Share was HK$0.91 at 30 June 2021, also increase...

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Shougang Century Announces 2020 Annual Results

indie
4 minutes

HONG KONG, Mar 22, 2021 - (ACN Newswire via SEAPRWire.com) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce its audited annual results for the year ended 31 December 2020.During the year under review, the pandemic outbreak caused a halt to manufacturing industries in a number of countries, dealing a heavy blow to the global economy. Fortunately, the Chinese government responded to the pandemic quickly after the outbreak with a series of effective and targeted measures, which underpinned the satisfactory progress in work resumption and production acceleration. On the other hand, the rampant pandemic has not been controlled in the overseas and dragged on manufacturing sectors across other countries, resulting in a shortage of tyres and related products. In view of this, the Group decisively seized the market opportunities by exploring new customers, while optimizing its sales mix to flexibly meet customers' requirements. Meanwhile, in order to actively cater for the market demand, the Group adopted a multi-pronged approach to expand production capacity in order to boost both the s...

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Shougang Century Announces Positive Profit Alert

indie
3 minutes

HONG KONG, Feb 9, 2021 - (ACN Newswire) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce that, based on its preliminary assessment of the unaudited consolidated financial statements of the Group for the year ended 31 December 2020, the Group expects a profit after tax of not less than HK$130 million, at least 20% more than that of HK$108 million for the previous year. Such increase was primarily attributable to the improvement of gross profit margin arisen from the decrease in production costs and the reduction in finance costs.Shougang Century is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group's two large production bases, which are located in Zhejiang Province and Shandong Province, produce approximately 200,000 tonnes of steel cords in total every year. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add a further 100,000 tonnes of steel cord production capacity. As the construction progress is satisfactory, the Group is building ...