Shanxi Huayang New Material (SHA:600281) forecasts a return to an attributable profit of between 70 million yuan and 90 million yuan in the first half from a loss of 49.4 million yuan in the year-ago period, according to a Friday filing with the Shanghai bourse.
The Chinese chemical company attributes the wider loss to inventory impairment reversals, as well as asset disposal income of 119.3 million yuan in the half from land use rights held to Taiyuan Chemical Industry, among others, the filing said.
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