Jiangxi Province-based Chinese steelmaker Fangda Special Steel Technology Co., Ltd (Fangda Special Steel) has announced that it expects to record a year-on-year increase of 75 percent in its net profit for the first half of the current year compared to the net profit of RMB 147 million ($22.01 million) in the same period last year.
Fangda Special Steel stated that it made improvements to company management and optimized its product structure to lower its costs, thereby contributing to its increased net profit in the given period.