China Fiberglass Co., Ltd, a state-owned fiberglass producer based in Beijing, reported Wednesday a loss in 2009.

According to its annual report filed to the Shanghai Stock Exchange, the company made a loss of about 300 million yuan (44 million U.S. dollars) last year, while in the previous year it netted a profit of 692 million yuan.

It was the second year that China Fiberglass saw a profit decrease, as in 2007 its profits totalled 738 million yuan, according to the report.

The company's losses per share in 2009 reached 0.3621 yuan, down from earnings per share of 0.563 yuan in 2008, while in 2007 earnings per share were 0.7049 yuan, according to the report.