27 February 2013 07:01 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Liaherd Chemical Industry posted a net loss of yuan (CNY) 11.7m ($1.9m) in 2012, swinging from a net profit of CNY108.5m a year earlier, as prices of its major products slumped, the company said on Wednesday.
Its total revenue was at CNY1.2bn in 2012, down by 13.5% from a year earlier, the company said in a statement to the Shenzhen Stock Exchange.
Furthermore, its wholly-owned subsidiary Shandong Xintai Liaherd Chemical made a loss of CNY27.5m in 2012, which gave a negative impact on its annual report, the company added.
($1 = CNY6.23)
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