CapitalVue reported that Shanxi Taigang Stainless Steel posted 3.5% YoY increase in net profit to CNY 838 million in the H1 of 2011.

Sales revenue in the H1 grew 5.57% YoY to CNY 45.84 billion with earnings per share of CNY 0.1472.

Production volume of steel increased 0.35% to 4.99 million tonnes in the H1 of this year with stainless steel production growing 3.14% to 1.46 million tonnes.

According to Taigang Stainless Steel, the growth rate in steel production volume will be lower in the latter half of this year while high production cost will continue in the steel production industry.

(Sourced CapitalVue.com)