Hebei Province-based Chinese steelmaker Xinxing Ductile Iron Pipes has announced that in 2011 its operating revenue reached RMB 52.53 billion ($8.31 billion), up 39.62 percent year on year, while its net profit totaled RMB 1.46 billion ($230.91 million), up 8.46 percent year on year. Earnings per share (EPS) for the given year amounted to RMB 0.764 ($0.121).
Xinxing Ductile Iron Pipes now holds a 50 percent share of the Chinese domestic market for ductile iron pipes. The company expects to commission iron ore and coal projects in China's Xinjiang Uygur autonomous region in 2012 and 2013