Hebei Province-based Chinese pipe producer Xinxing Ductile Iron Pipes Co. (Xinxing Ductile Iron Pipes) has stated that it has registered an operating revenue of RMB 20.128 billion ($2.93 billion) in the first half of the current year, down 20.0 percent year on year, while posted a net profit of RMB 1.134 billion ($0.165 billion) for the first half of the current year, up 126.37 percent year on year.
The company stated that optimization of strategic layout and improvement in quality and efficiency contributed to its increased net profit in the given period.