Daye Special's H1 Profits Soar

It's reported that many listed Chinese steelmakers have so far seen their stock prices below their net assets. But Daye Special Steel, whose actual controller is CITIC Pacific Special Steel, bucked the trend by posting a year-on-year rise of 161.74 percent in net profit in the first half, to 293 million yuan, and an increase of 56.37 percent in its revenues, to 3.86 billion yuan. The company is planning to increase its special steel output from 4.5 million tons now to nine million tons in the next three years.