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[Ferro-alloys.com]Xiangtan Electrochemical Scientific Ltd.(Xiangtan Electrochemical) published its preliminary earning estimate of 2014 recently. Its revenue reached RMB 669.8 million (USD 108 million) in 2014, down 5.4% year-on-year. Net profit attributable to shareholders of listed companies was RMB 59.49 million. In other words, it lost nearly RMB 60 million in 2014.

According to the report, the main reason why business performance declined sharply was that it received less government subsidy in 2014. Meanwhile, production base was relocated and EMD sale was influenced. Besides that, EMM market was still weak in 2014.

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• [Editor:Mike.zhang]