Profits have been registered by four of China’s non-ferrous metal companies, which respectively released their financial performance reports for 2017 via the cninfo.com.cn website on Tuesday and Wednesday.
Aluminum Corporation of China Limited (601600), a leading company in China’s non-ferrous industry, reported on Tuesday a 239% yearly increase in profits attributable to shareholders of the listed company, with a total volume of RMB 960 million.
This robust performance is driven by the surging gross profit margin from its main products, thanks to its better production structure, lower costs, and higher efficiency as well as structural reforms and environmental protection efforts by the government.
Jiangxi Copper Corporation Limited (600362), a large producer of copper cathode, reported a profit of RMB 1.024 billion attributable to shareholders of the listed company on Tuesday, up between 100% and 130% year-on-year.
Higher prices for its main products, favorable policies on corporate income taxation, and adjusted impairment of fixed assets worked together to drive its strong performance.
China Molybdenum Co., Ltd. (603993), a leading domestic producer of molybdenum, tungsten, cobalt, and copper, reported on Tuesday that it had registered between RMB 1.7 billion and RMB 1.9 billion in profits attributable to shareholders of the listed company, up between 170.33% and 190.37% year-on-year.
Its improved business performance covered two cases of mergers and acquisitions completed in the fourth quarter of 2016, which respectively involved a Brazilian company and a Congo company.
Additionally, rising prices of copper, cobalt, molybdenum, and tungsten at the market also contributed to its profits.
Tongling Nonferrous Metals Group Co., Ltd. (000630), a leading copper producer in China, also reported increased profits attributable to shareholders of the listed company on Wednesday, totaling between RMB 510 million and RMB 580 million, up between 183% and 222% year-on-year.
Its earnings per share for 2017 is between RMB 0.05 and RMB 0.06.
Higher profits from its main businesses, lower losses from foreign exchange, and shutdown of certain technologically backward factories are responsible for this better performance.
All the financial reports released by the above four companies are unaudited. The final and specific information will be provided in their official annual financial reports for 2017.
Aluminum Corporation of China Limited (601600), a leading company in China’s non-ferrous industry, reported on Tuesday a 239% yearly increase in profits attributable to shareholders of the listed company, with a total volume of RMB 960 million.
This robust performance is driven by the surging gross profit margin from its main products, thanks to its better production structure, lower costs, and higher efficiency as well as structural reforms and environmental protection efforts by the government.
Jiangxi Copper Corporation Limited (600362), a large producer of copper cathode, reported a profit of RMB 1.024 billion attributable to shareholders of the listed company on Tuesday, up between 100% and 130% year-on-year.
Higher prices for its main products, favorable policies on corporate income taxation, and adjusted impairment of fixed assets worked together to drive its strong performance.
China Molybdenum Co., Ltd. (603993), a leading domestic producer of molybdenum, tungsten, cobalt, and copper, reported on Tuesday that it had registered between RMB 1.7 billion and RMB 1.9 billion in profits attributable to shareholders of the listed company, up between 170.33% and 190.37% year-on-year.
Its improved business performance covered two cases of mergers and acquisitions completed in the fourth quarter of 2016, which respectively involved a Brazilian company and a Congo company.
Additionally, rising prices of copper, cobalt, molybdenum, and tungsten at the market also contributed to its profits.
Tongling Nonferrous Metals Group Co., Ltd. (000630), a leading copper producer in China, also reported increased profits attributable to shareholders of the listed company on Wednesday, totaling between RMB 510 million and RMB 580 million, up between 183% and 222% year-on-year.
Its earnings per share for 2017 is between RMB 0.05 and RMB 0.06.
Higher profits from its main businesses, lower losses from foreign exchange, and shutdown of certain technologically backward factories are responsible for this better performance.
All the financial reports released by the above four companies are unaudited. The final and specific information will be provided in their official annual financial reports for 2017.
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