Shanxi Province-based Chinese stainless producer Taigang Stainless Steel Co. (Taigang Stainless Steel), a listed subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), has announced an operating revenue of RMB 50.209 billion ($7.57 billion) for the first three quarters of the current year, up 25.32 percent year on year, while posting a net profit of RMB 2.158 billion ($0.34 billion) for the period, up 154.35 percent year on year.
Taigang Stainless Steel stated that, against the backdrop of the improved situation in China’s finished steel market, it upgraded its product structure and improved its management, resulting in its increased profitability in the given period.