Drastic losses recorded by Kaimeite Gases


Hunan Kaimeite Gases Co. Ltd announced its 2015 interim results with a drastic drop in both revenue (-77.8%) and profit.

Operating revenue plunged to just RMB 27.6m ($4.3m) for the first six months of 2015, from RMB 124.8m ($19.6m) for the same period last year.

Meanwhile, profit attributable to shareholders of the listed company showed a loss of RMB 31.2m ($4.9m) – a 212% loss compared with the same period last year. This deepens even further to a loss of 229% if non-recurring profit and loss is deducted from the calculation.

Even a 10.7% decrease in operating costs could not arrest such a slide.

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