Gansu Province-based Chinese steel producer Hongxing Steel, a listed subsidiary of Gansu-based steelmaker Jiuquan Iron and Steel Group (JISCO), has announced that it has registered an operating revenue of RMB 18.43 billion ($2.78 billion) for the first half of the current year, down 45.45 percent year on year, with a net profit of RMB 227 million ($34.19 million) compared to a net loss of RMB 1.534 billion in the same period last year.
In the given period, JISCO Hongxing Steel produced 2.4994 million mt of pig iron, 2.9337 million mt of crude steel and 2.8746 million mt of finished steel, equivalent to 48.07 percent, 47.55 percent and 45.85 percent of the company’s annual output targets, respectively.