Hunan Valin Steel Co.,Ltd. provided earnings guidance for the first quarter of 2014. The company predicted net loss attributable to shareholders of CNY 110 million to CNY 150 million for the first quarter of 2014, compared to CNY 370 million a year ago. It changed a loss-making operation into a profit-making one in 2013 and the loss forecasted for the first quarter of 2014 was less than that a year earlier.

However, severe operation situation in the domestic steel industry continued in the quarter and more steelmaker there are expected to suffer a similar situation.