On October 27, Henan Province-based Chinese steelmaker Anyang Iron and Steel Group Co. issued its financial results for the third quarter and the first three quarters of this year.
In the third quarter, Anyang Steel achieved an operating revenue of RMB 4.67 billion ($742.5 million), down 45.6 percent on year-on-year basis, while the company suffered a net loss of RMB 1.01 billion ($161 million).
In the first three quarters, the company achieved an operating revenue of RMB 15.89 billion ($2.5 billion), down 38.46 percent year on year; meanwhile, the company's net loss in the given period totaled RMB 2.46 billion ($390 million).
Meanwhile, the company anticipated that it may post another net loss for the whole year of 2012 due to lower steel prices and weak market demand this year