SGIS Songshan sees net loss of RMB 231 million in Q1

Guangdong Province-based Chinese steelmaker SGIS Songshan Co., Ltd (SGIS Songshan), a subsidiary of Guangdong-based steel producer Shaoguan Iron and Steel Co., Ltd (SGIS), has announced that in the first quarter of the current year it registered an operating revenue of RMB 2.315 billion ($0.36 billion), down 9.56 percent year on year, with a net loss of RMB 231 million ($35.43 million) compared to the net loss of RMB 431 million recorded in the same period of 2015.