Fujian Province-based Chinese steelmaker Fujian Sangang Minguang Co., Ltd (Sangang Minguang) has announced in its financial report for the first quarter of 2018 that it achieved an operating revenue of RMB 6.08 billion ($0.97 billion) in the given quarter, up 27.14 percent year on year, and a net profit of RMB 965.7 million ($153.3 million), indicating an increase of 136.91 percent compared to the net profit of RMB 407.6 million recorded in the first quarter of 2017.