Yunnan tin industry net profit increases 52.53% in the third quarter tin industry may improve profit flexibility

SMM10, 22 March: recently, Yunnan Tin Industry announced its third quarter results, which showed that the company's operating income in the third quarter was 11.258 billion yuan, an increase of 26.58 percent over the same period last year, and revenue in the first three quarters was 31.322 billion yuan, an increase of 13.57 percent over the same period last year. The net profit attributable to listed shareholders was 230 million yuan in the third quarter, an increase of 30.71 percent over the same period last year, and the net profit in the first three quarters was 684 million yuan, an increase of 28.84 percent.

Tin industry may improve profit flexibility of companies

According to international tin statistics, Myanmar's mine shipments in September were initially about 3500 tons, down significantly from August. Inventories in Myanmar have continued to shrink over the past 18 years, and exports from the region are expected to hardly increase significantly in the future.

At present, the Myanmar mine mainly faces two aspects of problems, one resource taste decline, from the previous 5-6% to the current 1-1.5%; The second is the change of mining mode, which is also the result of the decline of resource grade, which is gradually transformed from open mining to pit mining. Zhongtai Securities believes that the above two major problems have jointly led to a decline in the supply capacity of Myanmar's tin concentrate and an increase in mining costs, taking into account the uncertain future of local resources and the continuous consumption of government concentrate reserves. The peak of raw mineral production in Myanmar has passed.

According to Huatai Securities, tin prices rise by 10,000 yuan per ton, corresponding to the company's 18 years of theoretical profit elasticity of more than 200 million yuan, the company's profit elasticity is worth paying attention to. Tin shares, as the leader of the global tin industry, are expected to benefit deeply from this round of the market.

(SMM collates from the research papers of various companies, the above views do not mean that the website agrees with and is responsible for its authenticity. )