Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has issued its updated performance forecast for the first nine months of the current year, stating that it expects to register a net profit of RMB 870-1,054 million ($125.7-152.3 million) for the given period - higher than the previous forecast of RMB 758-943 million ($109.5-136.3 million) - up 135-185 percent year on year.