At present, four refractory companies listed on the main board have issued the semi-annual report of 2018. The revenue and profits of the four companies are shown in Table 1. All four companies have achieved double growth in operating income and net profit. Among them, the revenue of Ruitai Science and Technology increased by more than 100% year on year, and the net profit of Punai Stock, Beijing Lier and Luyang Energy Conservation increased by a large margin, exceeding 100%. This shows that the operation of refractory enterprises is better than last year. The main reason is that in the first half of this year, the downstream steel, cement, non-ferrous industries continued to boom, especially steel prices remained at a high level, and iron and steel enterprises generally made good profits. It improves the business environment faced by refractory enterprises and realizes the double growth of revenue and profit.
However, at present, the state's efforts to manage mineral resources and improve environmental protection have led to a tight supply of refractory raw materials and high prices, which have brought some difficulties to refractory industry enterprises. Refractories industry still has the problems of raw material price increase, overcapacity, accounts receivable and so on.