Baogang Group reported a profit of 681 million yuan ($99.65 million) during the first half of 2018, according to a July 26 Baotou Daily report.

The output of major products represented by steel and rare earth separation products exceeded the first-half goal set for the first six months of 2018.

Steel products produced by Baogang Group were exported to 54 countries during the first half of 2018, including to 21 Belt and Road member states.

Established in 1954, Baogang Group is an iron and steel State-owned enterprise based in Baotou. It is the largest steel business based in the Inner Mongolia autonomous region, and one of the oldest iron and steel industrial bases in China, with a large production base and the country’s largest scientific research and production base for rare earth metals.

A workshop owned by Baogang Group, an iron and steel manufacturer based in Baotou, Inner Mongolia autonomous region [Photo/nmgnews.com.cn]

A production line photographed at a workshop of Baogang Group [Photo/nmgnews.com.cn]