Anyang Iron and Steel Co., Ltd , one major steelmaker in central China's Henan province, saw its net profit slump 70.59% year on year to 27.76 million yuan ($4.2 million) in the first half of the year, said the company in a statement late August 9.
Operating revenue of the company grew 0.4% from a year earlier to 11.5 billion yuan over January-June, according to the statement.
In the second quarter, Anyang Iron and Steel made 228 million yuan of net profit, a year-on-year drop of 14.88%, the company said. The profitability was better in the second quarter than in the first quarter, as output of some steel products increased amid loosening environmental inspection.
(Writing by Jessie Jia Editing by Harry Huo)
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