Liaoning Province-based Chinese steel producer Lingyuan Iron & Steel Co., Ltd (Lingyuan Steel) has announced that it has registered an operating revenue of RMB 13.406 billion ($2.02 billion) for the first three quarters of the current year, up 32.28 percent year on year, while it realized a net profit of RMB 996 million ($150 million) for the given period, compared to a net profit of RMB 13.7939 million ($2.1 million) in the same period last year.
Lingyuan Steel said in its financial report for the January-September period that it focused on lowering costs and strengthening its management amid the improved market situation, thereby boosting its operating performance in the first nine months.