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Gushan Environmental Energy swings to loss in Q4

Apr. 28, 2012 (China Knowledge) - Gushan Environmental Energy Ltd<GU>, a producer of bio-diesel and a manufacturer of copper products in China, has posted RMB 683.1 million or US$108.5 million-net loss for the fourth quarter of 2011, whereas it earned a net profit of RMB 61.4 million in the same period of 2010.

Non-GAAP net loss amounted to RMB 8.7 million in the three months ended Dec. 31, 2012, compared with a non-GAAP net loss of RMB 40 million for the fourth quarter of 2010.

During the period from October to December 2011, the New York-listed firm's total revenues increased by 70.4% year-on-year and decreased by 15.9% quarter-on-quarter to RMB 399.6 million.

For the whole year of 2011, the company suffered a net loss of RMB 747.7 million, compared with a net loss of RMB 1.11 billion in 2010. Total revenues increased by 254.9% to RMB 1.45 billion, less than RMB 408.5 million the firm realized in 2010.

As of Dec. 31, 2011, the company had RMB 108 million or around US$17.1 million in working capital.

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