Fushun Special Steel posts net loss of RMB 1.338 billion for 2017

Wednesday, 27 June 2018 10:24:18 (GMT+3)   |   Shanghai
       

Liaoning Province-based Chinese steelmaker Fushun Special Steel Co. (Fushun Special Steel), a subsidiary of Dongbei Special Steel Group, has announced an operating revenue of RMB 4.984 billion ($0.76 billion) for 2017, up 6.56 percent year on year, as well as a net loss of RMB 1.338 billion ($0.21 billion), compared to the net loss of RMB 44.102 million recorded in the previous year.

Meanwhile, the company has also issued its financial report for the first quarter of 2018, announcing an operating revenue of RMB 1.558 billion ($0.24 billion), up 12.12 percent year on year, and a net loss of RMB 21.9445 million ($3.35 million), compared to a net profit of RMB 31.4605 million in the first quarter last year.

Due its net losses registered over the past two years, Fushun Special Steel's shares are now designated with a “special treatment” tag, which indicates that they carry a risk.


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