Shanxi Province-based Chinese major steelmaker Taigang Stainless Steel Co., Ltd., the listed subsidiary of Taiyuan Iron and Steel Group, issued its financial report for the first half of the current year, stating that it registered a net profit of RMB 4.735 billion ($730 million) in the given period, up 702.5 percent year on year.
At the same time, it posted an operating revenue of RMB 47.314 billion ($7.3 billion), up 43.93 percent year on year.
The company said the good demand, rising stainless steel prices contributed to the company’s best performance in history for the given period.