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Chongqing Iron & Steel, a medium-sized Chinese steelmaker, net loss in the H1 widened 23% YoY to CNY 1.38 billion as slower economic growth in China dented demand and steel prices.
Excluding extraordinary losses from asset disposals, the net loss narrowed 15.3% to CNY 945.24 million.
The company said that slower economic growth hit revenue, which dropped sharply by 35.18% to CNY 6.03 billion. It also suffered investment losses of CNY 2.07 billion, a whopping 176% jump on the same period last year.
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- [Editor:sunzhichao]
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