Liaoning Province-based Chinese steel producer Lingyuan Iron & Steel Co., Ltd (Lingyuan Steel) has announced that it expects to realize a net profit of RMB 400 million ($58.8 million) for the first half of the year, compared to the net loss of RMB 79.7315 million ($11.7 million) recorded in the same period last year.
Lingyuan Steel said in its announcement that it strengthened its management amid the better market situation to improve its operating performance in the first half of the year.