Hebei Province-based Chinese steelmaker Xinxing Ductile Iron Pipes Co., Ltd. (Xinxing Ductile Iron Pipes) has announced that it registered an operating revenue of RMB 9.876 billion ($1.4 billion) in the January-March period this year, up 17.93 percent year on year, while posting a net profit of RMB 197 million ($28.7 million) for the given period, up 43.94 percent year on year.
In the given period, Xinxing Ductile Iron Pipes focused on market expansion, structural optimization and cost control, while continuing to deepen its presence in high-end segments and special steel markets. In the first three months, the cost and profitability of the company’s steel products remained at the forefront of the industry, resulting in a big improvement in its operating performance.
