China: Qinling Cement's losses widen 113.88% in 2014

China-based Shaanxi Qinling Cement will push for a major asset restructuring in 2015, after it reported a second-year loss of CNY 250mn (€37.75 million/US$39.91 million) in 2014. The losses widened 113.88% from a year ago, due mainly to lower output and sales and reduced average selling price of cement and higher expenses. The company's revenue declined 15.46% to CNY 674 million. Qinling Cement has disclosed that it targets to produce and sell 3.85 million tonnes of cement in 2015.
March 17, 2015 Read time: 1 min

China-based Shaanxi Qinling Cement will push for a major asset restructuring in 2015, after it reported a second-year loss of CNY 250mn (€37.75 million/US$39.91 million) in 2014.

The losses widened 113.88% from a year ago, due mainly to lower output and sales and reduced average selling price of cement and higher expenses.

The company's revenue declined 15.46% to CNY 674 million.

Qinling Cement has disclosed that it targets to produce and sell 3.85 million tonnes of cement in 2015.

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