18 February 2019

Chongqing Steel sees loss in 2013 and 2014, paper says

Chongqing Iron & Steel Co. Ltd. (601005.CN) said it expects to book a loss this year and next after major asset restructuring and financing, Beijing News reported Thursday, citing a company statement. The company forecast a loss of 2.55 billion yuan (US$418 million) this year and another loss of 550 million yuan next year. It posted a loss of 1.11 billion yuan in the first half, up 72.21 percent from a year earlier. Its asset-to-debt ratio was about 90 percent, the report said.

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