Anhui Jingcheng Copper Reports 50-Fold Rise in H1 Profit as Copper Plate/Sheet and Strip Project Hits Full Capacity-Shanghai Metals Market

Hot Keywords

  • Silicon
  • Inventory data
  • Nickel
  • Aluminium
  • Copper scrap
  • Rare earth
  • Zinc
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Copper
  • provisional iron ore export permits
  • Futures movement
  • Market commentary
  • Evening comments
  • Operating rates

Anhui Jingcheng Copper Reports 50-Fold Rise in H1 Profit as Copper Plate/Sheet and Strip Project Hits Full Capacity

Company News 09:28:51AM Aug 29, 2014 Source:SMM

SHANGHAI, Aug. 29 (SMM) – Anhui Jingcheng Copper Co.’s net profit jumped 5,018.60% year-on-year in the first six months, as its profit margins from the high-precision copper plate/sheet and strip project surged, the company reported in the midyear report filed to Shenzhen Stock Exchange.

The company made a net profit of 21.87 million yuan ($3.55 million) in the first half of this year, compared with just 427,300 yuan over the same period last year.

Jingcheng Copper’s 30,000 tpy high-precision copper plate/sheet and strip project hit full capacity this year, with output growing 32.3% from a year ago to 15,300 tonnes in the first six months. The project realized 20.06 million yuan in “gross profit”, surging 373.71% from a year earlier.

The company expects its net profit to increase 15-45% to 30.63-38.62 million yuan in the first three quarters, given steady sales growth and lower raw material costs. In addition, Jingcheng Copper managed to raise 115.04 million yuan by June, and part of the funds will be used for the 25,000 tpy technology upgrade project and a new 5,000 tpy product mix upgrade project at its subsidiary Wuhu Chujiang Alloy Copper Material Co. The move is expected to help improve Jingcheng Copper’s profitability and competitiveness.
 

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. 
 

Anhui Jingcheng Copper Reports 50-Fold Rise in H1 Profit as Copper Plate/Sheet and Strip Project Hits Full Capacity

Company News 09:28:51AM Aug 29, 2014 Source:SMM

SHANGHAI, Aug. 29 (SMM) – Anhui Jingcheng Copper Co.’s net profit jumped 5,018.60% year-on-year in the first six months, as its profit margins from the high-precision copper plate/sheet and strip project surged, the company reported in the midyear report filed to Shenzhen Stock Exchange.

The company made a net profit of 21.87 million yuan ($3.55 million) in the first half of this year, compared with just 427,300 yuan over the same period last year.

Jingcheng Copper’s 30,000 tpy high-precision copper plate/sheet and strip project hit full capacity this year, with output growing 32.3% from a year ago to 15,300 tonnes in the first six months. The project realized 20.06 million yuan in “gross profit”, surging 373.71% from a year earlier.

The company expects its net profit to increase 15-45% to 30.63-38.62 million yuan in the first three quarters, given steady sales growth and lower raw material costs. In addition, Jingcheng Copper managed to raise 115.04 million yuan by June, and part of the funds will be used for the 25,000 tpy technology upgrade project and a new 5,000 tpy product mix upgrade project at its subsidiary Wuhu Chujiang Alloy Copper Material Co. The move is expected to help improve Jingcheng Copper’s profitability and competitiveness.
 

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.