Total cost of sales increased 23.9% to RMB3.11 billion primarily due to higher volume of products sold as well as increased raw material prices.
SINGAPORE (May 8): Delong Holdings, the China-based steel manufacturer, reported a 46.2% fall in 1Q19 earnings to RMB151 million ($30.3 million) from RMB280.8 million a year ago.
Group revenue increased 17.1% to RMB3.45 billion due to an increase in the volume of hot rolled coil (HRC) sold amid growing demand from the construction and infrastructure sectors, despite a decrease in average selling prices.
