Liaoning Province-based Chinese steelmaker Fushun Special Steel Co.(Fushun Special Steel), a subsidiary of Dongbei Special Steel Group, has announced an estimated net profit of RMB 127-134 million ($20.5-21.6 million) for the first half of the current year, up 780-830 percent year on year.
In the given period, Fushun Special Steel achieved a strong increase in its net profit by upgrading its technology, services and products. Meanwhile, a financial subsidy which the company received in the given period also boosted its net profit figure.
In addition, the company holds a large share in the market for steel used for military purposes, which is rarely affected by the negative impact of macroeconomic fluctuations and provides a strong guarantee of stable sales revenues.