Jiangsu Province-based Chinese company Jiangsu Shagang Co., Ltd (Jiangsu Shagang) has announced in a preliminary report that for 2015 it expects to record an operating revenue of RMB 7.486 billion ($1.14 billion), down 27.38 percent year on year, with a net loss of RMB 80.039 million ($12.24 million) compared to the net profit of RMB 35.2164 million recorded in 2014.
Jiangsu Shagang stated that slowing economic growth in China and the continuous declining trend of finished steel prices caused it to incur net loss in the year in question.