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Article: Gofar Marine Bio in the red in H1 after failure to secure govt support for fuel ethanol business.
- Article from:
- China Business News
- Article date:
- August 26, 2008
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Gofar Marine Bio in the red in H1 after failure to secure govt support for fuel ethanol business
Shanghai. August 26. INTERFAX-CHINA - Beihai Gofar Marine Biological Industry Co. Ltd.'s net loss over the first six months of this year can be attributed to its attempt at producing non-grain-based fuel ethanol without first securing much-needed government subsidies, an expert told Interfax on Aug. 25.
According to the company's 2008 interim report, between January and June this year, Gofar Marine Bio ran up a net loss of RMB 36.84 million (-$5.39 million). In comparison, the company made RMB 804,974 ($117,686.26) over the same period last year.
A ...
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