It's reported that Chinese steel pipe producer Yulong Steel Pipe released its financial report for the first half of this year.
In the first half of this year, the firm realized operation revenues of RMB1.1 billion, decreasing by 10.4% and it posted net profits of RMB56.53 million, falling by 10.14%, both compared to that in the same period of a year earlier.
In the given period of time, the firm's sales volumes of steel pipes totaled 235,600 tons, including 77,700 tons of steel pipes for the oil and gas industry.
Meanwhile, Yulong Pipe's average gross profit margin rate for all steel pipe sales in the first half of this year was at 12.10%, falling by 3.09 percentage points year on year.