Jiangxi Province-based Chinese steelmaker Fangda Steel Group Co. has announced a gross profit of RMB 10.034 billion ($1.59 billion) for 2017, rising by 240.64 percent year on year.
Meanwhile, its listed subsidiary Fangda Special Steel Technology Co., Ltd (Fangda Special Steel) registered an operating revenue of RMB 13.94 billion ($2.21 billion) in 2017, up 56.27 percent year on year, while it posted a net profit of RMB 2.54 billion ($0.403 billion) for the given year, up 281.40 percent year on year.