Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has issued an estimated net loss of RMB 140-170 million ($22.58-27.42 million) in the first half of the current year, with net loss per share of RMB 0.0464-0.0564 ($0.007-0.009) compared to the company’s net profit of RMB 19.01 million ($3.07 million ) in the same period of last year, with a net profit per share of RMB 0.0063($0.001) in the first half of 2014.
Hunan Valin Steel stated that the company has achieved a net profit through optimizing products’ quality and reducing the cost in the second quarter of the current year after the loss in the first quarter, while it could not change the overall loss in the first six months.