Liaoning Province-based steelmaker Fushun Special Steel Co., Ltd has announced that its net profit for 2020 is expected to reach RMB 530-590 million ($82-91 million), up 75.48-95.34 percent year on year.
The company said it continuously increased investment in research and development, and constantly adjusted and improved its product structure, resulting in the rise in its net profit for the given year.
Fushun Special steel has an annual capacity of 1 million mt of crude steel.