Haikou, China –China’s largest natural rubber maker Hainan Rubber Group posted €8 million (61 million yuan) net profit in 2016 compared to €134 million net loss in 2015.
“Natural rubber price over the first three quarters of 2016 continued the slump in previous years, but the fourth quarter saw it rebound,” said the company’s annual report. Revenue for the year rose by 6% to €1.2 billion.
More stringent cost control and asset disposal also contributed to the turn around, said the report.
In 2016, Hainan Rubber finished the…