Xining Special Steel sees 96% decrease in net profit for Jan-Sept

Publish time: 30th October, 2012      Source: ChinaCCM
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Ningxia Autonomous region-based Chinese domestic steelmaker Xining Special Steel Co. issued its financial results for the third quarter of this year.

In the third quarter, Xining Special Steel's sales revenue totaled RMB 1.467 billion ($233 million), down 22.57 percent year on year, while its net loss amounted to RMB 46.385 million ($7.36 million) compared to a net profit of RMB 89.36 million ($14.2 million) in the same period of last year.

In the first three quarters, the company achieved an operating revenue of RMB 5.201 billion ($826 million) and a net profit of RMB 11.9539 million ($1.9 million), down 16.38 percent and 96.28 percent year on year.