Angang Steel Co., Ltd., based in Anshan, northeast China's Liaoning Province, reported net profits up 229.24 percent to 6.85 billion yuan (US$889 million) in 2006 in its annual report released on Wednesday.

Its earnings per share stood at 1.15 yuan, with earnings against net assets at 22.94 percent.

Takings on major businesses of the steel maker amounted to 54.6 billion yuan (US$7.1 billion) last year, up 106.12 percent.

The Shenzhen and Hong Kong-listed company produced 11.07 million tons of special rolled steel in 2006, an annual increase of 4.78 million tons.

It exported 23.82 percent of its total output, according to the report.

(Xinhua News Agency April 11, 2007)