Hangzhou Steel sees 26.7 percent drop in operating revenue in Q1

Zhejiang Province-based Chinese steelmaker Hangzhou Iron and Steel Co. has issued its financial results for the first quarter of the current year, announcing an operating revenue of RMB 2.956 billion ($0.477 billion), down 26.69 percent year on year, and a net loss of RMB 61.116 million ($9.86 million), increasing compared to the net loss of RMB 15.928 million recorded in the same period last year.