Ji En Nickel Reports Losses in Net Profits H1-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Nickel
  • MMi Iron Ore Port Index
  • Inventory data
  • Futures movement
  • Rare earths
  • ஷாங்காய் துத்தநாகம்
  • Xiexin new energy
  • Evening comments
  • Copper concentrate TC
  • Copper
  • Aluminium
  • Smog alert
  • Customs data
  • price

Ji En Nickel Reports Losses in Net Profits H1

Company News 03:40:47PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) – Ji En Nickel Industry Co. suffered a loss of 350 million yuan ($ 54.9 million) in net profits in H1, down 9,206.11 % YoY, SMM reported.

The company gained revenues of 2.25 billion yuan in the first half of 2015, up 58.08 % from a year ago and achieving 56.3% of the whole year’s plan. Even so, the company still registered heavy losses due to 77.43% rise in operating costs, 84.45% growth in selling expenses and 395.83% increase in financial expenses, all on the YoY basis.

Revenues from refined nickel increased 113.45% YoY during Jan.-Jun. but surge in sales, resulting from slipping refined nickel prices, added to operating costs by 138.48% YoY. Meanwhile, gross margin slid 9.87 percentage points YoY. SMM #1 nickel prices averaged 101,000 yuan per tonne in H1, down 9.36% YoY. Gross margin from nickel salt grew 8.72 percentage points to 28.64%.

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.

Ji En Nickel Reports Losses in Net Profits H1

Company News 03:40:47PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) – Ji En Nickel Industry Co. suffered a loss of 350 million yuan ($ 54.9 million) in net profits in H1, down 9,206.11 % YoY, SMM reported.

The company gained revenues of 2.25 billion yuan in the first half of 2015, up 58.08 % from a year ago and achieving 56.3% of the whole year’s plan. Even so, the company still registered heavy losses due to 77.43% rise in operating costs, 84.45% growth in selling expenses and 395.83% increase in financial expenses, all on the YoY basis.

Revenues from refined nickel increased 113.45% YoY during Jan.-Jun. but surge in sales, resulting from slipping refined nickel prices, added to operating costs by 138.48% YoY. Meanwhile, gross margin slid 9.87 percentage points YoY. SMM #1 nickel prices averaged 101,000 yuan per tonne in H1, down 9.36% YoY. Gross margin from nickel salt grew 8.72 percentage points to 28.64%.

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.