Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has announced that it has increased its expectation for its net profit for 2017 to RMB 682-792 million, from the previous expectation of RMB 473-572 million, with the new net profit range constituting an increase of 210-260 percent year on year.