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Gushan Envtl. Energy's loss narrows to RMB 2.1 mln in Q1

Jun. 5, 2012 (China Knowledge) - Gushan Environmental Energy Ltd<GU>, a bio-diesel producer in China, saw its net loss attributable to shareholders narrow to RMB 2.1 million in the first quarter of this year from a net loss of RMB 17.5 million in the same period of 2011.

In the three months ended Mar. 31, 2012, the company reaped RMB 266.5 million in revenue, representing a YoY increase of 7.6% from RMB 247.8 million but a QoQ decrease of 33.3% from RMB 399.6 million.

Of the total revenue for the first quarter of this year, revenue derived from the firm's copper product business reached RMB 265.2 million, up 19.36% YoY from RMB 222.2 million.

Revenue from bio-diesel business amounted to RMB 1.3 million for the first quarter of 2012, representing a YoY decrease of 94.8% from RMB 25.6 million.

At the end of March 2012, the company saw its cash balance amount to RMB 51.6 million, sources reported.

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