Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has issued its financial report for the first half of the current year, stating that it registered an operating revenue of RMB 7.23 billion ($1.06 billion), up 18.41 percent year on year, while posted a net profit of RMB 647.0 million ($94.7 million) in the given period, up 242.33 percent year on year.