Qinghai Province-based Chinese steelmaker Xining Special Steel Co. has announced in its preliminary financial report issued on January 29 that in 2014 it expects to achieve a net profit in the range of RMB 10-50 million ($1.6-8 million), compared to a net loss of RMB 71.23 million ($11.5 million) in 2013. Xining Special Steel stated that the increase of revenue in its non-steel business contributed to the rise in its profitability in 2014.