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Zhongfu Industrial’s Operating Profit Down 96.95% in 2011
Mar 29,2012 16:43CST
smm insight
Source:SMM
Henan Zhongfu Industrial Co., Ltd. released the 2011 annual report recently, saying its operating revenues were RMB 13,185,901,400 in 2011, up 14.19% YoY.

SHANGHAI, Mar. 29 (SMM) -- Henan Zhongfu Industrial Co., Ltd. released the 2011 annual report recently, saying its operating revenues were RMB 13,185,901,400 in 2011, up 14.19% YoY; operating profits were RMB 3.84 million, down 96.95% YoY; total profits were RMB 242,285,700, up 2.39% YoY; and earnings per share were RMB 0.13/share, down 12.16% YoY.

Zhongfu Industrial’s total operating income from aluminum and aluminum products business was RMB 11,579,385,800 in 2011, up 8.33% YoY, operating cost was RMB 10,448,657,700, up 7.84% YoY; and operating profit margin was 9.44%, up 0.41% YoY. The company’s energy and raw materials prices increased in 2011 due to aluminum price volatility, keeping the growth of overall operating profit margin in check.

SMM believes Zhongfu Industrial’s two subsidiaries, Linzhou Linfeng Aluminum & Electricity Co., Ltd. and Henan Zhongfu Special Aluminum Materials Co., Ltd., posted a drop of RMB 15.85 million and RMB 7.26 million in their net profits in 2011, which helped limit the growth of operating profit margin on aluminum and aluminum products at Zhongfu Industrial. Lower total profits were due mainly to huge losses suffered by power companies owned by Zhongfu Industrial, with only Henan Zhongfu Electric Power Co., Ltd. reporting a loss of RMB 157.561 million in 2011 net profit.
 

Zhongfu Industrial
aluminum

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