Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co. Ltd (Hebei Steel), listed subsidiary of Hebei Iron and Steel Group (HBIS), has announced that in the first nine months of the current year it expects to post a net profit of RMB 3.3-3.5 billion ($0.48-0.51 billion), rising by 50.34-59.45 percent year on year.