Shandong Province-based Chinese steelmaker Shandong Iron and Steel Group Co. has announced that in the January-September period of the current year its operating revenue amounted to RMB 52.535 billion ($8.58 billion), down 9.18 percent year on year. Meanwhile, also in the given period, Shandong Steel recorded a net loss of RMB 128 million ($20.9 million), compared to a net loss of RMB 1.957 billion ($320 million) in the same period last year.
Shandong Steel stated the main reasons for the decrease in its net loss included reductions in costs and administrative expenses, while its income from investments increased.
Source:
http://www.steelorbis.com/steel-news/latest-news/shandong-steel-posts-reduced-net-loss-for-jan_sept-791879.htm
