Liaoning Province-based Chinese steelmaker Bengang Steel Plates Co., Ltd. (Bengang Plates) has stated that it expects it will register a net profit attributable to the shareholders of the listed company of RMB 2.2 billion ($0.34 billion) in the first half of the current year, up 764 percent year on year.
The steel rolling and processing enterprise Bengang Plates has an annual crude steel production capacity of 20 million mt.
The company stated that it seized opportunities amid the improvement in the steel industry, upgrading its technology and ensuring relatively high capacity utilization rates, in the first six months this year, resulting in a rapid rise in its net profit in the given period.