Hangzhou Steel posts net loss of RMB 34.9958 million for Q1

Zhejiang Province-based Chinese steelmaker Hangzhou Iron & Steel Co., Ltd. (Hangzhou Steel) has issued its financial report for the first three months this year, stating that its operating revenue amounted to RMB 14.437 billion ($2.0 billion) in the given period, down 10.01 percent year on year, while it recorded a net loss of RMB 34.9958 million ($4.9 million), compared to the net profit of RMB 34.1446 million recorded in the same period of last year.