Zhongjin Gold Corp. Posts 51% Drop in H1’s Profits on Falling Prices-Shanghai Metals Market

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Zhongjin Gold Corp. Posts 51% Drop in H1’s Profits on Falling Prices

Company News 10:31:03AM Aug 20, 2014 Source:SMM

SHANGHAI, Aug. 20 (SMM) – Zhongjin Gold Corp. reported a 51.12% year-on-year drop in net profits to 283 million yuan ($46 million) during the first six months of the year, it said in its half-year financial reports. 

The company posted a 3.92% year-on-year increase in its revenues 15.93 billion yuan, but falling prices of gold, silver and copper from a year ago led to the tumble in profits, the company added. 

During 1H 2014, the average sales price of gold was 257.10 yuan/g in the Shanghai Gold Exchange, down 13.97% from a year ago. 
 
Key Words:  2014 H1 results 

Zhongjin Gold Corp. Posts 51% Drop in H1’s Profits on Falling Prices

Company News 10:31:03AM Aug 20, 2014 Source:SMM

SHANGHAI, Aug. 20 (SMM) – Zhongjin Gold Corp. reported a 51.12% year-on-year drop in net profits to 283 million yuan ($46 million) during the first six months of the year, it said in its half-year financial reports. 

The company posted a 3.92% year-on-year increase in its revenues 15.93 billion yuan, but falling prices of gold, silver and copper from a year ago led to the tumble in profits, the company added. 

During 1H 2014, the average sales price of gold was 257.10 yuan/g in the Shanghai Gold Exchange, down 13.97% from a year ago. 
 
Key Words:  2014 H1 results