Baogang sees sharp rise in net profit in Q1

Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co. (Baogang) has issued its financial report for the first quarter of the current year, announcing an operating revenue of RMB 6.569 billion ($1.06 billion), up 5.55 percent, and a net profit of RMB 9.8928 million ($1.6 million), increasing by 194.87 percent, both year on year.