Shandong Steel Group gained 987mln yuan in first-three quarters

Oct. 29 MetalBiz--"Cut down the cost and increase the efficiency, turn the losses into gains" is Shandong Steel Group's main job version under the background of the spreading of financial crisis and the continuous recession of steel market. In June this year, Shandong Steel Group started to turn the losses into the gains, making the profit. The recent data showed that Shandong Steel Group achieved the revenue of 64.6bln yuan in the first three quarters, in September, making a total profit of 550mln yuan. All the losses are cleared off, it gained the accumulative profit of 987mln yuan.

Faced with the severe market situation and challenge and hardship, Shandong Steel Group's leaders tightly circled the two important works, one is turning the losses into the gains, the other is integrating the key business.

Shandong Steel Group first integrates the operation and sales business, and pays more attention to the purchase and sales. In addition, Shandong Steel Group realized the share of internal resource, and effectively avoided the repeated research and development as well as the investment, to reduce the cost.