Chinese steel
pipe producer Xinxing Ductile Iron Pipes has announced that in the first quarter of this year its total operating revenue amounted to RMB 14.53 billion ($2.3 billion), increasing by 8.43 percent year on year. Meanwhile, in the given period the company’s net profit came to RMB 360 million ($57.14 million), decreasing by 8.11 percent compared to the same period of 2011.