It is reported that Sichuan Province-based Chinese steelmaker Pangang Group has announced that in 2011 the sales revenue of Pangang Group Xichang New Steel Enterprises Co reached a record level of CNY 4 billion with its net profit for the year amounting to CNY 260 million.

In the January to October 2011 period, Xichang New Steel Enterprises had achieved its full year targets two months in advance. Its sales revenue and net profit in the first 10 months of 2011 totalled CNY 3.71 billion and CNY 250 million up by 12.8%YoY and 21.9%YoY respectively.

(Sourced from SteelOrbis)
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