Qinghai Province-based Chinese steelmaker Xining Special Steel Co. has announced that in the first three quarters of the current year its sales revenue reached RMB 6.221 billion ($980 million), up 20.44 percent year on year, its total gross profit amounted to RMB 573 million ($90 million), up 131.55 percent year on year, while the net profit belonging to its listed shareholder companies reached RMB 321 million ($51 million), up 142.12 percent year on year.
Currently, Xining Special Steel has an annual special steel production capacity of 1.2 million mt. After its new
steelmaking and continuous casting facilities are commissioned in 2012, Xining Special Steel's annual special steel production capacity is expected to reach 2 million mt.