Xinyu Steel’s 2008 net profit rises 128.54 percent

According to its 2008 annual report announced on March 29, Jiangxi Province-based Chinese steel producer Xinyu Steel registered a total turnover of RMB 27.412 billion ($4.01 billion) and a net profit of RMB 710 million ($110 million) during the year in question, marking respective increases of 260.52 percent and 128.54 percent year on year.