Shagang Co., Ltd. (Shagang), based in Jiangsu Province, announced that its net profit for January-June this year amounted to 156 million yuan ($21.9 million), which is 49.53% more than in the previous year.
In the quarter, Shagang recorded operating revenue of 6.827 billion yuan ($0.96 billion), down 10.86% from the previous year.
Faced with a serious and challenging market situation, Shagang adjusted its business strategy and promoted product modernization, increasing profitability in the first six months of this year.
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