Zhongfu Industrial Expects to Reverse Loss in 2014 on Falling Power Cost

Published: Feb 11, 2015 15:02

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Henan Zhongfu Industrial Co. expects to reverse losses in 2014 by posting 15-45 million yuan ($2-7 million) in net profit attributable to shareholders of its listed company.

SHANGHAI, Feb. 11 (SMM) – Henan Zhongfu Industrial Co. expects to reverse losses in 2014 by posting 15-45 million yuan ($2-7 million) in net profit attributable to shareholders of its listed company, it said in a statement filed to the Shenzhen Stock Exchange.

The company attributes the expected profit to falling power costs and government subsidy for closure of outdated power generating units.

It suffered a net loss of 848.64 million yuan in 2013, it added.

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Henan Zhongfu Industrial Co.2014 FY results

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