Henan Province-based Chinese steelmaker Zhongyuan Special Steel Co. has issued its preliminary financial results for 2014, indicating an operating revenue of RMB 1.219 billion ($0.199 billion), down 7.40 year on year, while it realized a net loss of RMB 44.89 million ($7.32 million), compared to a net profit of RMB 2.32 million in 2013.
The company stated that, while it had received RMB 91.3238 million from asset disposal in 2013, while it recorded no such income in 2014, resulting in the sharp decline in its profitability in the given year.