March 13 (Xinhua) -- Minmetals Development Co., Ltd., a listed subsidiary company of mining giant China Minmetals Corporation(CMC), reported a 78.26-percent surge in net profit last year.

Net profit attributable to the parent company exceeded 479 million yuan (about 75.66 million U.S. dollars) in 2021, the company said in a statement filed with the Shanghai Stock Exchange.

The company's business revenues rose 29.99 percent to about 87.51 billion yuan in the reporting period, it said.

CMC is the country's largest metals and minerals group, which had recorded its highest-ever revenue in 2020 despite the adverse impact of COVID-19 and violent price swings in metals.