Chongqing Iron & Steel (HKG:1053, SHA:601005) forecasts its net loss will narrow to 117 million yuan in the first quarter from 333.8 million yuan in the year-ago period, according to a Tuesday filing with the Hong Kong bourse.
The narrower forecast loss in Q1 is attributable to improvements in production and processes, as well as cost reduction enhancements, and sales strategy adjustments, the filing said.
The steel manufacturer's shares closed 3% higher in Hong Kong on Wednesday.
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