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New Anshan Steel Gains 583 Million Yuan in First Half Year
Angang New Steel Co. (ANS) Ltd. made a profit of 538 million yuan during the first half of this year, far exceeding the total of last year.
The company, whose sales for the past six months totaled 8.952 billion yuan, attributed the higher profit to its improved competitiveness through technological advances.
During the past six months, Anshan New Steel Co. has marketed 48 new varieties of products in 25 new specifications, bringing in a profit of 61.22 million yuan.
Affiliated with China's first iron and steel maker, Anshan Iron and Steel Company (AISC), Anshan New Steel Co., was started in 1997 by AISC and first listed on the Hong Kong and Shenzhen stock exchanges the same year.
It is now one of the biggest producers of cold-rolled steel products in China.
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