On March 11, Zhejiang Province-based Chinese special steel producer Juili Special MaterialTechnology Co., formerly known as Jiuli Stainless Steel Pipe Co., issued its financial results for 2012. Accordingly, for 2012 Jiuli Special Material Technology has posted a net profit of RMB 154.896 million ($25 million), up 35.37 percent compared to 2011. Meanwhile, the company achieved an operating revenue of RMB 2.6599 billion ($424 million) in the given year, up 21.57 percent year on year