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Andrew Yang greets supporters during a Seattle campaign stop. (GeekWire Photo / Todd Bishop)

Angang Steel Company said its net profits would rise 236 percent to 3.3 billion yuan (7.7 million) during the first three quarters on recovering market demand and cost-efficiency moves.

Analysts say it aims to do so with the promotion of governance, economic transformation, development of human capital, the preservation of the environment and with sustainable development.

Angela Chao, who joined the Foremost Group in 2001, said the core values of the company have never changed.

Analysts said the merger will enable the State-owned giant to win more orders and gain more business in overseas cultural markets, adding that merging a relatively bigger SOE with diversified and international business interests with those with smaller assets and overlapping business might be the future direction of SOE restructuring and reform.