Sangang Minguang’s net profit down 33 percent in Q1

Fujian Province-based Chinese steelmaker Fujian Sangang Minguang Co., Ltd (Sangang Minguang) has announced an operating revenue of RMB 8.347 billion ($1.24 billion) for the first quarter of the current year, down 0.45 percent year on year, while posting a net profit of RMB 962.0 million ($143.4 million) for the given period, down 33.02 percent year on year.