Chinese steel producer Guangzhou Iron & Steel Enterprises Group (GISE), a subsidiary of Chinese steel giant Baosteel, has announced that in the first three quarters of this year its gross revenue totaled RMB 4.652 billion ($731.45 million). However, in the given period the group recorded a net loss of RMB 234 million ($36.79 million).
In the first half of the year, Guangzhou Iron & Steel Enterprises Group's gross revenue had totaled RMB 3.419 billion ($537.58 million), while it had recorded a net loss of RMB 128 million ($20.13 million).