Xinxing Ductile Pipe became the first steelmaker who has released its first-half business results among the steel sector of the mainland securities markets. The company had an operating profit of 729 million yuan, up 23.52 percent year-on-year; a gross profit of 780 million yuan, up 27.2 percent; an attributable net profit of 472 million yuan, up 21.19 percent and earnings per share of 0.4 yuan. The company attributed the higher-than-expected rally to the recovery of macro economy caused by the government’s four trillion yuan stimulus package.