Lingyuan Steel sees 21.48 percent fall in net profit in Q3

According to the quarterly report released on October 18 by Liaoning Province-based Chinese steelmaker Lingyuan Iron and Steel Co. (Lingyuan Steel), in the third quarter this year the company posted a 21.48 percent year-on-year decrease in net profit to RMB 143 million ($22.52 million).
 
Meanwhile, in the first three quarters, Lingyuan Steel earned revenues totaling RMB 11.435 billion ($1.8 billion).