Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd has stated that it registered an operating revenue of RMB 53.319 billion ($7.5 billion) in the first nine months of the current year, down 3.17 percent year on year, while recording a net profit of RMB 1.846 billion ($0.26 billion) for the given period, down 54.53 percent year on year.
The company stated that the rising prices of iron ore, nickel and other raw materials resulted in the decline in its net profit in the January-September period.