Jiangxi Province-based Chinese steelmaker Fangda Special Steel Technology Co., Ltd (Fangda Special Steel) has announced that it expects to see a year-on-year rise of 140-190 percent in net profit for the first half of the current year, compared to a net profit of RMB 258.8 million in the same period last year.
The company stated that improvements made to management and higher finished steel prices in the first half of the year contributed to the rise in its net profit for the given period.