Gold and molybdenum shares: the company's net profit is expected to drop 67% in 2020 compared with the same period last year.

The company's net profit attributable to the parent company in 2020 is expected to be between 155 million yuan and 185 million yuan, down about 67% to 73% from a year earlier, the company said in a statement.

The net profit belonging to the parent company after deducting non-recurring gains and losses in 2020 was between 132 million and 162 million yuan, down about 70 to 76 per cent from a year earlier.

The reason for the change in performance: during the reporting period, the overall downward trend in the domestic and foreign molybdenum market, the transaction prices of all kinds of molybdenum products dropped sharply compared with the same period last year, affecting the gross profit decreased significantly compared with the same period last year, and the return net profit decreased significantly.