Zhejiang Province-based Chinese stainless steel pipe and tube producer Zhejiang JIULI Hi-tech Metals Co. (JIULI Hi-tech Metals, formerly known as Jiuli Stainless Steel Pipe Co.), a listed subsidiary of Zhejiang JIULI Group Co., has announced that in 2014 it recorded an operating revenue of RMB 2.902 billion ($0.46 billion), up 1.87 percent year on year, while its net profit for the year was RMB 190 million ($30.35 million), down 12.55 percent year on year.
JIULI Hi-tech Metals stated that the slowdown in investment in downstream industries affected its profitability in the given year.