Henan Province-based Chinese steelmaker Zhongyuan Special Steel Co. has issued its financial results for the first half of the current year, indicating a net profit of RMB 32 million ($5.23 million), down 732.93 percent compared to the same period in 2012. Meanwhile, the operating revenue of the company in the first six months amounted to RMB 610 million ($99.62 million), down 31.67 percent year on year.
Zhongyuan Special Steel Co. also stated that it expects to achieve an operating revenue of RMB 1.9 billion ($310.3 million) and a net profit of RMB 50 million ($8.165 million) in the whole year of 2013. Furthermore, company officials indicated that they were focusing aggressively on the market for supplies to the military, with a department having been established in the company for this purpose.
