Published:
Fabchem China posts RMB16.8m loss in Q3
Due to a month-long production halt.
Mainboard-listed Fabchem China reported a net loss of RMB 16.8 million in the third quarter.
The decline was on back of reduced sales of its commercial explosive products, as well an over month-long production halt as part of authorities’ safety directive due to an unrelated explosion incident at a booster production plant in Shandong Province.
With lower revenue registered across all four product segments, the Group’s revenue declined 62.3% to approximately RMB 37.4 million in 3Q2016, while revenue for 9M2016 dipped 40.7% to approximately RMB 182.8 million.
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