Yuguang Gold & Lead Turns Profitable in H1 on Lower Costs, Government Subsidies-Shanghai Metals Market

Hot Keywords

  • Copper
  • Nickel ore
  • Aluminium
  • Sales data
  • Inventory data
  • Market commentary
  • Evening comments
  • Stainless steel
  • Nickel
  • Zinc
  • Morning comments
  • Futures movement
  • Silicon metal
  • Silicon
  • Production data

Yuguang Gold & Lead Turns Profitable in H1 on Lower Costs, Government Subsidies

Company News 05:47:47PM Aug 28, 2014 Source:SMM

SHANGHAI, Aug. 28 (SMM) – Henan Yuguang Gold & Lead Co. jumped into the black in the first half of the year, helped by lower costs and government subsidies, according the company’s semiannual report filed to the Shanghai Stock Exchange.

The company made a net profit of 12.3 million yuan ($2.0 million), or 0.04 yuan per share, in the first half of the year, compared with a 243.9 million yuan loss reported in H1 2013.

Although selling prices for Yuguang’s major products – lead, gold and silver – dropped 2.55%, 16.35%, and 21.91%, respectively, the company managed to secure lower-priced raw materials, helping it turn around.

In addition, the company also received value-added-tax rebate and government subsidies for recycling sulfuric acid from off-gas and lead from scrap batteries.  
 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Yuguang Gold & Lead Turns Profitable in H1 on Lower Costs, Government Subsidies

Company News 05:47:47PM Aug 28, 2014 Source:SMM

SHANGHAI, Aug. 28 (SMM) – Henan Yuguang Gold & Lead Co. jumped into the black in the first half of the year, helped by lower costs and government subsidies, according the company’s semiannual report filed to the Shanghai Stock Exchange.

The company made a net profit of 12.3 million yuan ($2.0 million), or 0.04 yuan per share, in the first half of the year, compared with a 243.9 million yuan loss reported in H1 2013.

Although selling prices for Yuguang’s major products – lead, gold and silver – dropped 2.55%, 16.35%, and 21.91%, respectively, the company managed to secure lower-priced raw materials, helping it turn around.

In addition, the company also received value-added-tax rebate and government subsidies for recycling sulfuric acid from off-gas and lead from scrap batteries.  
 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.