Hunan-based Chinese steelmaker Valin Group announced the financial results of its subsidiary Hunan Valin Iron & Steel Co. (Hunan Valin Steel) for the first three quarters of the current year.
In the January-September period of the current year, Hunan Valin Steel registered a net loss of RMB 275 million ($45.12 million), up 89.22 percent year on year, while its operating revenues totaled RMB 43.598 billion ($7.15 billion), down 5.73 percent year on year.
In the third quarter alone, Hunan Valin Steel's operating revenue amounted to RMB 15.304 billion ($2.51 billion), up 9.43 percent, while the company recorded a net loss of RMB 109 million ($17.89 million), up 108.72 percent, both year on year.
Source:
http://www.steelorbis.com/steel-news/latest-news/hunan-valin-steel-sees-increased-net-loss-in-jan_sept-792154.htm
