SMM News: Yulong shares (601028) released the 2019 semi-annual report on the afternoon of August 18, during the reporting period, the company realized business income of 180 million yuan, down 79.64% from the same period last year; net profit attributable to shareholders of listed companies was-8.2724 million yuan, down 110.41% from the same period last year; deducting non-net profit was-15.7053 million yuan, down 4066.44% from the same period last year.

Yulong shares said that the decrease in operating income was mainly due to the decrease in sales volume of steel pipe business, while the decrease in net profit was mainly due to sales of steel pipe business, lower gross profit margin, and lower-than-expected new energy business.

During the reporting period, Yulong shares will be held in Tianjin Yuhanyao equity transfer, after the completion of the equity transfer, the company's main business will not include new energy business, still dominated by steel pipe business. At present, Yulong has a production capacity of 120000 tons of straight submerged arc welded steel pipe and 30, 000 tons of spiral submerged arc welded steel pipe. According to its use, the products can be divided into two categories: transportation pipeline and structural steel pipe.