Bayi Steel posts decline of 46.3 percent in net profit for H1

Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has announced an operating revenue of RMB 8.213 billion ($1.2 billion) for the first half of the current year, up 15.95 percent year on year, and a net profit of RMB 216 million ($31.6 million) for the given period, down 46.3 percent year on year.