Hunan Province-based Chinese steelmaker Valin LY Steel Co. has announced that it has recorded a net loss of RMB 713 million ($114 million) for 2014, compared to a net profit of RMB 76.4047 million in 2013.
In 2014, Valin LY Steel achieved an operating revenue of RMB 14.373 billion ($2.3 billion), down 8.16 percent year on year.
In 2014, Valin LY Steel produced 5.55 million mt of crude steel, 4.9843 million mt of pig iron, and 5.1838 million mt of finished steel, down 1.41 percent, up 4.84 percent and decreasing by 0.33 percent year on year, respectively.
In 2015, the company plans to produce 5.18 million mt of crude steel.