Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Co. announced that in the January-September period of the current year its operating revenue amounted to RMB 25.283 billion ($4.14 billion), down 6.33 percent year on year, while it saw a net loss of RMB 175 million ($28.69 million), compared to a net loss of RMB 770 million ($126.2 million) in the same period last year.
According to Xinyu Steel, the decline in its net loss in the January-September period was mainly due to its measures to lower purchasing costs and improve management.
Source:
http://www.steelorbis.com/steel-news/latest-news/xinyu-steel-registers-net-loss-of-rmb-175-million-in-jan_sept-792128.htm
