[Ferro-alloys.com] According to the latest financial report released in Hong Kong Exchanges, CITIC Dameng Mining Industries Ltd (CITIC Dameng) lost HKD 94.30 million(USD12.16 million) in the first half year of 2014. Its gross business income was RMB HKD 1.396 billion in H1, down 0.8% year-on-year. CITIC Dameng is the second largest EMM manufacturer of China and it was listed in Hong Kong Exchanges in late 2010. The company fell into consecutive loss in 2012. EMM market was still weak and it was quite difficult for CITIC Dameng to reverse loss.

The administration and supervision authorities analyzed that macro economy in China was not very good in China this period. Steel market was still weak and EMM price was adversely affected. Although the company tried to reduce cost, the loss in H1, 2014 was close to that in H1, 2013.

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• [Editor:Mike.zhang]