China Carbon Graphite Group, Inc. announced unaudited consolidated financial results for the second quarter ended June 30, 2013. For the quarter, the company reported sales of $2,714,252 against $11,877,543 a year ago. The decrease in sales was mainly due to industry-wide demand weakness for its products as a result of continued struggles of steel manufacturers. Operating loss before other expenses was $8,507,575 against operating income before other expenses of $1,645,978 a year ago. Loss before income tax expenses was $9,444,003 against income before income tax expenses of $871,311 a year ago. Net loss was $9,444,003 against net income of $871,311 a year ago. Net loss available to common shareholders was $9,448,491 against net income available to common shareholders of $866,686 a year ago. Diluted loss per share was $0.37 against diluted earnings per share of $0.04 a year ago.

For the six months, the company reported sales of $5,775,170 against $21,938,753 a year ago. The decrease in sales was mainly due to industry-wide demand weakness for its products as a result of continued struggles of steel manufacturers. Operating loss before other expenses was $9,237,388 against operating income before other expenses of $3,608,381 a year ago. Loss before income tax expenses was $10,946,271 against income before income tax expenses of $1,124,428 a year ago. Net loss was $10,946,271 against net income of $1,124,428 a year ago. Net loss available to common shareholders was $10,955,296 against net income available to common shareholders of $1,114,785 a year ago. Diluted loss per share was $0.43 against diluted earnings per share of $0.05 a year ago. Net cash used in operating activities was $5,226,786 against net cash from operating activities of $1,827,804 a year ago. Acquisition of property, plant and equipment was $2,434 against $37,756 a year ago. Increase of land use rights was $116,227 against $1,109,403 a year ago. Addition of construction in progress was $16,860,357 against $1,109,403 a year ago.