Rare earth firm sees profit fall
Print Edition
CHINA Northern Rare Earth (Group) High-tech Co Ltd, the country’s largest rare earth miner and producer, expected its net profits to plunge in 2016 as demand sagged, prices faltered while production costs rose.
Net profits may plunge by up to 90 percent from a year earlier to 325.72 million yuan (US$47.21 million) in 2016, the company said on Saturday in a report filed to Shanghai Stock Exchange.
Earnings per share would be 0.09 yuan, flat with that in 2015.
The company attributed the profit decline to higher production costs and falling prices of rare earth products amid weak demand. Unfair competition exacerbated the situation, it said.
Share prices of the company fell 1.15 percent to 12.07 yuan on Friday.
As the world’s largest supplier of the minerals, China’s exports rose 34.2 percent year on year in 2016 in terms of volume, but export value declined 2.7 percent during the period, according to customs data.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
