Handan Iron & Steel Co Ltd, one of China's leading iron & steel producers, said in its interim financial report that its net profit for the first half of this year reached RMB 555 million, up 10.7% from a year earlier, with earnings of RMB 0.19 per share.

    During the reporting period, the company realized trading profit of RMB 870 million, representing an increment of 18.88% year on year, mainly because of the booming market and increasing product prices.

    According to the statement, its total profits in the first six months rose 1.1% to RMB 740.65 million. Meanwhile, the Chinese steelmaker achieved a 4.56% return on equity, inching up 0.23 percentage point year-on-year.

    Output of crude steel and steel products were approximately 2.89 million tons and 2.71 million tons, down by 4.88% and 3.1%, respectively.

    The Hebei-headquartered company is 60%-owned by state-controlled Handan Iron & Steel Group.

    In 2008, Handan Steel's parent has merged with state-controlled Tangshan Iron & Steel Group to form the country's largest steel enterprise named Hebei Iron & Steel Group.