Chinese steel company Xinxing Ductile Iron Pipes Co., Ltd. (Xinxing Ductile Iron Pipes), based in Hebei Province, announced that in January-March this year it recorded operating revenue of 9.876 billion yuan ($1.4 billion), up 17.93% year-on-year, and net profit for the period was 197 million yuan ($28.7 million), up 43.94% year-on-year.
In the current period, Xinxing Ductile Iron Pipes has focused on market expansion, structural optimization and cost control, while continuing to deepen its presence in the high-end and specialty steel markets. In the first three months, the cost and profitability of the company's steel products remained at the leading edge of the industry, resulting in a significant improvement in its operating performance.
