Shanxi Province-based Chinese stainless producer Taigang Stainless Steel Co. (Taigang Stainless Steel), a listed subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), has announced that it recorded an operating revenue of RMB 25.119 billion ($3.76 billion) for the first half of the current year, down 29.13 percent year on year, with a net profit of RMB 302 million ($45.21 million) compared to the net profit of RMB 63.9222 million recorded in the same period last year.
In the first half of the current year, Taigang Stainless Steel produced 5.1145 million mt of crude steel, of which stainless crude steel accounted for 2.0473 million mt, equivalent to 49.18 percent and 48.75 percent of the company’s annual output targets, respectively.