Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that in the first quarter this year it registered an operating revenue of RMB 23.7 billion, up 18.59 percent year on year, while achieving a net profit of RMB 1.092 billion ($0.16 billion), down 28.78 percent year on year.