Nanning Sugar Manufacturing Co., Ltd. predicted net loss attributable to shareholders of CNY 133.46 million to CNY 174 million in January-September 2013 period. The figure was CNY 133.4603 million a year ago. The company ascribed the loss to selling price decline faster than decrease of white granulated sugar costs, which dragged down gross margin and company profit.

Meanwhile, the paper market depression resulted in loss making.