General Steel Holdings, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 12:27 pm EDT
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General Steel Holdings, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 181,255 compared to USD 0 a year ago. Operating loss was USD 173,504 compared to USD 25,000 a year ago. Net loss was USD 3.501 million compared to USD 585,071 a year ago. Basic loss per share was USD 0.08 compared to USD 0.03 a year ago. For the half year, sales was USD 181,255 compared to USD 0 a year ago. Operating loss was USD 451,844 compared to USD 50,000 a year ago. Net loss was USD 4.267 million compared to net income of USD 2.855 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to Basic EPS - Continuing Operations of USD 0 a year ago. Basic loss per share was USD 0.09 compared to basic earnings per share of USD 0.14 a year ago.
General Steel Holdings, Inc., through its subsidiary, General Steel Investment Co., Ltd., operates steel companies serving various industries in the People's Republic of China (PRC). The Company manufactures and sells steel products, such as steel rebar, hot-rolled carbon and silicon sheets and spiral-weld pipes. The Company sells its products primarily to distributors and related parties. The Company has controlling interests in a trading subsidiary and an Internet-of-things subsidiary: Tianjin Shuangsi Trading Co., Ltd. (Tianjin Shuangsi) and Tongyong Shengyuan (Tianjin) Technology Development Co., Ltd. (Tongyong Shengyuan). Tianjin Shuangsi is a trading company that primarily trades iron ore, nickel-iron-manganese alloys and other steel-related products. Tongyong Shengyuan is a holding company of Tianjin Shuangsi.
GENERAL STEEL HOLDINGS, INC. 
