Qinghai Province-based Chinese steelmaker Xining Special Steel Co. (Xining Special Steel) has announced that it expects to register a net profit of RMB 8-12 million ($1.18-1.76 million) for the first half of the current year, compared to a net loss of RMB 360 million in the same period last year.
The company stated that optimization of its product structure and improvements in service and cost control have contributed to its better performance in the first half of this year.