Following the closing down of many steel mills and other redundant production, the annual reports of industrial gas companies are showing a growth trend again, suggesting the economy of China has stabilised.
Suzhou Jinhong Gas
The domestic industrial gas company has published that their annual turnover in 2017 is 36.5% more than that in 2016, giving RMB 893.5m ($142m) (2016: RMB 654.5m, $104.06m). Net profit attributed to shareholders has jumped 76.2% to RMB 58.5m($9.3m) (2016: RMB 33.18m, $5.3m).
The company states that the improvement in performance is due to the overall industrial gas market is on the rise and the demand for industrial gases has increased; internally, active market development leading to higher market share, more efforts in research and development in new products, optimisation of product structure, and also internal control and management have contributed to the performance.
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