Minmetals rare earths semi-annual net profit of 67.99 million increased by 157 per cent year on year

SMM8, 9 August: on the evening of August 9, Minmetals released its semi-annual report for 2018, which showed that the company achieved business income of 292 million yuan from January to June 2018, an increase of 5.67 percent over the same period last year. The average growth rate of business income of non-ferrous smelting and processing industry is 13.96%; The net profit belonging to the shareholders of the listed company was 67.9912 million yuan, an increase of 157.35% over the same period last year. The average net profit growth rate of the non-ferrous smelting and processing industry was 45.74%, and the company's earnings per share was 0.07 yuan.

Rare earths are widely used in various fields, and the fluctuation of economic situation will have an impact on the downstream demand and price of rare earth oxides. In recent years, the structural contradictions in the rare earth industry are still prominent, the upstream smelting separation overcapacity, the relative shortage of downstream high-end application products, and the imbalance in the application of rare earth elements. At the same time, it still takes time to fully and effectively implement the rare earth industry policy. The prices of rare earth products are still fluctuating at a low level, and the company's operating income and profits will be affected accordingly. In view of the above situation, the company better grasped the rare earth industry policy change and the rare earth market fluctuation rhythm during the reporting period, and synthesized the policy guidance, the market situation and the company's own actual situation. It has formulated and adopted the production and operation plan of Hongjin Company and Dahua Company according to the production and operation plan and the production and operation plan flexibly arranged by Jianfeng Company according to the order situation. The separate enterprises owned by the company carried out the production and operation according to the production and operation plan during the reporting period.