Hebei Province-based Chinese pipe producer Xinxing Ductile Iron Pipes Co. (Xinxing Ductile Iron Pipes) has announced that it expects to register a net profit of RMB 799.05-816.05 million ($120.15-122.71 million) for the first nine months of the year, indicating a sharp rise compared to a net profit of RMB 226.97 million in the same period last year.
The company stated that better conditions in the domestic market due to supply-side reform in the given period and its own improved management contributed to its better performance in the first nine months.