SMM2: recently, Chongyi Zhangyuan Tungsten Industry shares released its 2017 performance KuaiBao, during the reporting period, domestic and foreign tungsten industry market prices showed a stable recovery trend, tungsten product demand and market prices have increased.
The company achieved total revenue of 1.8306061 billion yuan, an increase of 39.59 percent over the same period last year, mainly due to the simultaneous increase in product sales and unit prices; The operating profit was 67.2117 million yuan, an increase of 1,125.02 percent over the same period of last year, mainly due to the sharp increase in the gross profit from product sales and the investment income of the associated enterprises. The net profit of shareholders belonging to listed companies was 31.5295 million yuan, down 33.09 percent over the same period last year. It is mainly caused by the decrease of government subsidy, the increase of income tax of parent company and the provision of impairment of fixed assets in the reporting period, which lead to the increase of impairment loss of assets compared with the same period last year. Basic earnings per share was 0.03 yuan, down 40.00% from the same period last year, due to the decline in net profit of shareholders of listed companies.