Valin Group reports increase in profit
China's Valin Group posted a 107.7 percent increase in first half profit thanks to increased production and sales. The company's profit amounted to RMB 1.22 billion ($151 million) in the first half of 2005. At the same time, sales revenue rose 45.5 percent year on year to RMB 15.4 billion ($1.90 billion). Valin Group produced 3.96 tons of steel and 3.79 million tons of steel products during the first half. Growth in both segments was 26 percent year on year.