Fujian Province-based Chinese steelmaker Fujian Sangang Minguang Co. (Sangang Minguang) has announced that its net profit for 2021 is expected to reach RMB 4.016 billion ($0.63 billion), up 57.13 percent year on year.
In the given period, the company optimized product structure and improved its operations amid the rising trend of steel prices in China, which contributed to the year-on-year increase in its net profit.