Zhejiang Province-based Chinese steelmaker Zhejiang Kingland & Pipeline Technologies Co., Ltd (Zhejiang Kingland & PipelineTechnologies) has announced in its annual report that in 2015 it registered an operating revenue of RMB 2.642 billion ($0.41 billion), down 13.18 percent year on year, with a net profit of RMB 95.364 million ($14.76 million), up 21.58 percent year on year.
Zhejiang Kingland & Pipeline stated that the decreases in raw material prices and increases in the company’s sales volume improved the company’s profitability in the given year.