Xinjiang Ba yi Iron & Steel announced earnings results for the year 2014. The company posted that it gained CNY 20.64 billion in 2014, down 11.03% year on year; it incurred CNY 2.03 billion losses, compared with CNY 33.38 million profits in 2013. The company attributes the profit decline to excess production capacities, weak demands, fierce competitions and slumping sales prices.