Zhongjin Lingnan Expects Earnings to Fall in First Three Quarters of 2015

SHANGHAI, Oct. 26 (SMM) - Shenzhen Zhongjin Lingnan Nonfemet Co.’s earnings in the first three quarters this year will fall year-over-year, the company estimates in its report, according to ifeng.com.

Prices of the company’s major products saw a sharp drop in Q3 compared with the same period last year, and the change of yuan’s rate against the US dollar led to exchange losses.

Besides, the company’s subsidiary Nonfemet International (China-Canada-Japan) Aluminum Co. received 320 million yuan compensation for removal last year, which added 181 million yuan to parent company’s profit in the first three quarters of last year. This also resulted in a decline in Shenzhen Zhongjin Lingnan Nonfemet Co.’s earnings in the first three quarters this year.

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