PEKING (dpa-AFX) - Gushan Environmental Energy (GU), a manufacturer of copper products and biodiesel in China, reported first-quarter net loss of 2.1 million renminbis or 0.12 renminbis per American Depositary Share, or ADS, narrower than the net loss of 17.5 million renminbis or 1.08 renminbis per ADS in the year-ago first quarter.
Loss from operations for the latest quarter amounted to 3.0 million renminbis, compared to a loss from operations of 14.5 million renminbis for the first quarter of 2011.
Revenues for the quarter increased 7.6 percent to 266.5 million renminbis from 247.8 million renminbis in the year-ago quarter, due to Xiangbei's results which was consolidated in the beginning of August 2011.
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