Angang Steel’s Full-Year 2018 Slightly Above Prelim; FVE Raised; Shares Overvalued
Angang Steel announced full-year 2018 earnings that were slightly above preliminary results, with net profit increased by 19.8% year over year to CNY 7.95 billion from CNY 6.64 billion in 2017, based on restated numbers after adoption of new accounting policy and the acquisition of Angang Chaoyang in September 2018. Dividend per share of CNY 0.22 was announced, representing a payout ratio of 20% and is a slight decline from CNY 0.232 declared in 2017. The board also proposed a bonus issue of thr...Angang Steel Company Limited is a China-based company principally engaged in the production and distribution of steel. The Company's main products include hot-rolled steel sheet products, cold-rolled steel sheet products, medium and heavy sheets and other steel products. The Company distributes its products within domestic market and to overseas markets.
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