Liaoning Province-based Chinese steelmaker Fushun Special Steel Co., a subsidiary of Dongbei Special Steel Group, has issued its financial results for the first quarter of current year, announcing an operating revenue of RMB 1.288 billion ($0.21 billion), down 15.61 percent year on year, and a net profit of RMB 60.75 million ($9.80 million), up 919.57 percent year on year.
The company stated that its increased focus on high-end products resulted in the sharp increase in its net profit in the first quarter.