SinoCoking Coal and Coke Chemical Industries, Inc. reported consolidated financial results for the year ended June 30, 2014. For the year, revenue was $50,267,693 against $66,686,301 a year ago. Income from operations was $6,715,337 against $5,119,597 a year ago.

Income before income taxes was $2,842,064 against $2,709,081 a year ago. Net income was $990,582 or $0.05 per basic and diluted share against $1,047,693 or $0.05 per basic and diluted share a year ago. Net cash used in operating activities was $648,578 against net cash provided by operating activities of $6,627,554 a year ago.

The decrease in revenue in fiscal 2014 compared to last year was the result of a slowdown in sales of most of the company's coal products, including raw coal, coal slurries, mid-coal, coke powder, and washed coal. This slowdown was caused by Chinese government policies aimed at reducing pollution and softness in the construction markets, which in turn affected demand for steel and its constituent coal. As a result, in fiscal 2014, the company's coal products contributed only 13% of overall SinoCoking revenue, compared to 41% in fiscal 2013.

Due to strong increases in gross profit margin for the company's coke products, SinoCoking's overall gross profit margin in fiscal 2014 increased to 18% from 12% in fiscal 2013. This, in turn, helped the company to produce a fiscal 2014 net profit roughly comparable to that of fiscal 2013, despite a decrease in revenue of 25%.