Hunan Province-based Linyuan Steel estimated that its net profits attributed to the shareholders of its parent company in 2012 would slump by 70% from a year ago.
In 2011, the company’s net profits attributed to the shareholders of its parent company were at RMB156 million
Linyuan Steel stated that the its profits slumped substantially in 2012 due to weak demand and sluggish steel market even though the company sought to reduce costs.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62723&division=A6
