Gansu Province-based Chinese steel producer Hongxing Steel, a listed subsidiary of Gansu-based steelmaker Jiuquan Iron and Steel Group (JISCO), has announced that in the first quarter this year it registered an operating revenue of RMB 8.503 billion ($1.30 billion), down 55.3 percent year on year, with a net loss of RMB 267 million ($40.76 million) compared to the net loss of RMB 366 million in the same period of 2015.
Meanwhile, in its annual report for 2015, JISCO Hongxing Steel has announced that it achieved an operating revenue of RMB 54.777 billion ($8.36 billion), down 42.79 percent year on year; while it registered a net loss of RMB 7.364 billion ($1.12 billion) in the given year, compared to a net profit of RMB 39.134 million in 2014.