Jiangsu Province-based Chinese stainless steel producer Wujin Stainless Steel Pipe Group Co.,Ltd has announced that its net profit in 2023 will likely amount to RMB 353 million ($49.6 million), up 64.13 percent year on year.
In 2023, the company focused on the high-end stainless steel pipe market, performing well in its major businesses, with the output and sales volume of products indicating year-on-year rises, which exerted a positive impact on its net profit in the given year.
In 2023, Wujin Stainless Steel Pipe’s output and sales volumes of seamless steel pipes amounted to 56,068 mt and 51,172 mt, up 19.3 percent and 10.7 percent year on year, respectively.