Shagang Co. Ltd expects 20-50 percent rise in net profit for 2014

Jiangsu Province-based Chinese steelmaker Shagang Co. Ltd, the listed subsidiary of Shagang Group, has issued its revised preliminary financial report for 2014, stating that it expects to register a net profit of RMB 34-42 million ($5.5-$6.8 million) for the given year. This represents an increase of 20-50 percent compared to the previous year.