Baotou Steel Rare-Earth Q1 Profits Fall 80%-Shanghai Metals Market

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Baotou Steel Rare-Earth Q1 Profits Fall 80%

Industry News 04:43:44PM Apr 22, 2013 Source:SMM

SHANGHAI, Apr. 22 (SMM) – Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Company released its Q1 earnings report on April 19. Net profits of listed shareholders in Q1 were RMB 245 million, down 79.68% YoY, with profits of RMB 0.101/share.

The company realized business income of RMB 2.296 billion in Q1, down 35.69% YoY. The company attributes the declines to falling rare earth product sales and traded prices on the YoY basis.
 
With regard to the nearly 80% declines in net profits, the company reported that is because of falling rare earth price and sales, as well as rising costs. (Edited by SMM)
 

Key Words:  rare earth price 

Baotou Steel Rare-Earth Q1 Profits Fall 80%

Industry News 04:43:44PM Apr 22, 2013 Source:SMM

SHANGHAI, Apr. 22 (SMM) – Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Company released its Q1 earnings report on April 19. Net profits of listed shareholders in Q1 were RMB 245 million, down 79.68% YoY, with profits of RMB 0.101/share.

The company realized business income of RMB 2.296 billion in Q1, down 35.69% YoY. The company attributes the declines to falling rare earth product sales and traded prices on the YoY basis.
 
With regard to the nearly 80% declines in net profits, the company reported that is because of falling rare earth price and sales, as well as rising costs. (Edited by SMM)
 

Key Words:  rare earth price