Liaoning Province-based Chinese steelmaker Lingyuan Iron and Steel Co. (Lingyuan Steel) has announced that it registered an operating revenue of RMB 7.245 billion ($1.17 billion), down 1.16 percent, seeing a net loss of RMB 269.76 million ($43.58 million) in the first half of the current year, while it registered a net profit of RMB 36.927 million ($5.97 million) in the same period of last year. In the first half of the current year, its net loss per share was RMB 0.34, compared to RMB 0.05 in the corresponding period of 2013.
In the first six months of this year, Lingyuan produced 2.5203 million mt of crude steel, 2.3878 million mt of pig iron and 2.576 million mt of finished steel of, and, up 0.92 percent, 7.51 percent and 4.01 percent year on year, respectively.
In its financial report for the first half, Lingyuan Steel stated that declines in its output and sales revenue were due to maintenance in its blast furnace No. 4, and the continuous decreases in overall finished steel prices resulted in net loss in the given period.