Zhejiang Province-based Chinese steelmaker Hangzhou Iron and Steel Group Co. (HISGC) has issued its financial results for the third quarter of the current year, announcing a net loss of RMB 213 million ($33.8 million).
In the third quarter, the company's operating revenue totaled RMB 4.20 billion ($668 million), down 21.33 percent year on year
In the first three quarters, Hangzhou Steel achieved an operating revenue of RMB 13.30 billion ($2.1 billion), down 23.02 percent on year-on-year basis, while the company registered a net loss of RMB 32 million ($50.8 million), compared to a net profit of RMB 302 million ($47.9 million) in the same period of last year.