13 December 2018

Chongqing Iron expects 2.5 bln yuan net loss, filing says

Chongqing Iron & Steel Co. Ltd. (01053.HK, 601005.CN) expects to record a net loss of about 2.5 billion yuan (US$413.14 million) for 2013, it said in a stock exchange filing Wednesday. That compares with a net profit of 98.81 million yuan in the previous year. It blamed the projected loss to a persistent downturn in steel prices and rising production costs. It said it incurred higher expenses in relocating some of its facilities under the government’s stricter anti-pollution regulations.

– Contact HKEJ at [email protected]



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