Reportedly, the Chinese steelmaker Wuhan Iron and Steel (Group) Corp. (WISCO) announced its financial result for January-September period. In the first nine months of this year, Wisco realized a net profit of RMB651 million, soaring by 98.44% in comparison of the figures in the same period of 2012. Meanwhile, Wisco’s operating revenues amounted to RMB66.659 million in the given period of time, down by 0.84% year on year. Wisco explained that the sharp rise in net profit was boosted the receipt of further government subsidies.