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 half of the current year, stating that it expects to register a net profit of RMB 586.0-680.0 million ($87.5-101.5 million) for the given period - higher than the previous forecast of RMB 453.6-548.0 million ($71.1-85.9 million) - up 210-260 percent year on year.