SHANGHAI, Aug. 30 (SMM) - Shenzhen Zhongjin Lingnan Nonfemet Co.’s (Nonfemet) earnings report for the first half of this year said its net profit was 43.55 million yuan, down 73% year-on-year, due mainly to falling lead and zinc prices, according to cfi.net.
However, its net profit was 96.46 million yuan in the second quarter, or 0.04 yuan per share, improving on a quarterly basis, thanks to rising zinc.
Zinc rose 14% in Q2 compared to Q1, so its gross margin increased 9 percentage points to 14%.
The firm’s lead and zinc ore production was 163,000 tonnes in the first half of the year, flat year-on-year.
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