Special Steel Co., Ltd (Zhongyuan Special Steel) announced in a correction of its preliminary annual report that for 2015 it expects to record a net loss in the range of RMB 160-200 million ($24.32-30.40 million) compared to the net loss of RMB 46.6442 million recorded in 2014. The company stated that slowing economic growth and the continous decline of finished steel prices caused it to incur an increased loss in the given year.
In its previous preliminary annual report, Zhongyuan Special Steel stated that it expected to record a net loss of RMB 80-95 million ($12.16-14.45 million) for 2015.