SHANGHAI, Feb. 3 (SMM) - China-based Tongling Nonferrous Metals Group expects its profit belonging to listed shareholders to reverse to 620-670 million yuan losses, down 306%-323% from 3 billion yuan in 2014, it said in its 2015 earnings report, according to cnstock.com.
The company witnessed weakening profitability from falling prices of its major products in 2015. Big yuan’s devaluation is also attributable to the loss.
It is still confident toward its business conditions in the next few years, expecting business revenue to reach 200 billion yuan by 2020.
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