After two consecutive years of losses, the alloy steel pipe company has seen a positive turnaround in its performance. The company is now projecting a profit of 550 million yuan for the first quarter of this year. To reverse the prolonged loss situation, the company set clear profit targets for 2013 and began implementing strategic measures from the fourth quarter of last year. These included optimizing production schedules, improving raw material and fuel resource allocation, and refining steel sales strategies. As a result, the company's operational performance has steadily improved since the end of last year, with a notable achievement in December when it turned a monthly profit for the first time in a while.
According to Sangang Shuguang’s performance forecast, the alloy steel pipe business is expected to generate profits between 24.67 million and 25.68 million yuan in the first quarter of 2013, marking a significant increase of 630% to 660% compared to the same period last year. This improvement is primarily driven by higher operating income and reduced costs for major products, which have led to an expanded gross profit margin. During the annual performance briefing in 2012, Baosteel executives noted that while steel prices rebounded in the first quarter of 2013, rising fuel costs remained a challenge. The price of raw materials had increased by over 50% compared to the lowest point of the previous year, putting pressure on overall profitability. Despite these challenges, the company managed to maintain stable business performance during the quarter.
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