Guangdong Province-based Chinese steel rolling and processing company SGIS Songshan Co., an affiliate of Guangdong-based Shaoguan Iron and Steel Co. (Shaogang), has announced that in the first quarter of the current year it achieved an operating revenue of RMB 6.65 billion ($0.98 billion), up 13.47 percent year on year, while recording a net profit of RMB 405 million ($59.6 million), down 52.27 percent year on year.