Guangzhou Iron and Steel shares the huge loss of 700 million Everbright Pramerica the exclusive Shigekura very injured

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roundup, February 11, the steel industry under the winters first annual report is released, Guangzhou Iron and Steel shares (600,894) last year, the huge loss of 689 million yuan is for two consecutive years. loss, shares of Guangzhou Iron and Steel Annual Report Disclosure will be "* ST", 2011 shares of Guangzhou Iron and Steel shares accumulated or 25.19 percent, of which 31.69% cumulative fall in the second half, which made the second half of last year, start the exclusive Shigekura Guangzhou Iron and Steel shares Everbright Pramerica Fund ( Confucius News) add a touch of sadness. the

Guangzhou Iron and Steel huge loss of 689 million shares of stock Phi Star hat into * ST GISE " information according to the Shanghai Stock Exchange, shares of Guangzhou Iron and Steel year operating income of 6.181 billion yuan, down 5.06 percent, a profit of -6.89 billion.

but the main reason for study of its loss, first annual report of the Guangzhou Iron and Steel shares due to the steel industry downturn, the company failed to break through the "trapped capital - operating passive - the delay in production - the effectiveness of deterioration adverse pattern led to huge loss .

Guangzhou Iron and Steel shares, said the domestic steel industry continues to slump, especially since mid-September 2011, within a short period of 40 days, the domestic construction steel prices experienced a significant diving market, the decline generally in about 15% . Decided to steel the cost of iron ore in a monopoly position, and steel prices fell seriously out of sync, high steel costs, profit margins are severely squeezed.

is worth noting that, in accordance with the areas main business segments, then, the share of domestic revenue of Guangzhou Iron and Steel for 5.856 billion yuan, being evil, an increase of 10.65%, but foreign business income has fallen 80%, only 232 million yuan . Companies are equally explain the downturn due to the international steel market during the reporting period.

audit institutions Guangdong middle of the Pearl River Certified Public Accountants has issued an audit report to remind users of financial statements with emphasis on matters concern, Guangzhou Iron and Steel shares as of December 31, 2011 consolidated financial statements the accumulated loss of 1.842 billion yuan attributable to the parent the rights and interests to -2.02 billion. Guangzhou Iron and Steel shares as of December 31, 2011 current liabilities than current assets 1.296 billion yuan and a larger negative, indicating that the working capital, there may not be able to realize the asset and settle the debt risk in the normal course of business.