News Column

Hongxing Iron & Steel Predicts CNY320mn Losses for H1

July 18, 2014

SHANGHAI, July 18, SinoCast -- Gansu Jiu Steel Group Hongxing Iron & Steel predicts that it would incur about CNY 320 million net losses attributable to shareholders in the first half of 2014. The company made CNY 239.93 million net profits and CNY 0.0407 earnings per share in the period last year.

April-June performance got better compared with that in the prior quarter, but the company suffered losses due to continued weak demands of steel market and low steel price.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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