According to the report issued on August 16 by Hubei Province-based Chinese steelmaker Daye Special Steel, in the first half of the current year the steelmaker's net profit rose by 161.74 percent year on year to RMB 293 million ($43.15 million).
For the given period, Daye Special Steel's total revenues amounted to RMB 3.855 billion ($567.8 million), up by 56.37 percent year on year. The company stated that product structure adjustment and the development of new products contributed to its positive results.
From June 30 to August 16 this year, the company's share price climbed up from RMB 10.31 to RMB 12.98, marking an increase of 25.90 percent.