SMM7 24: located in the "hometown of non-ferrous metals in China", Inner Mongolia Xingye Mining Co., Ltd. (referred to as "Xingye Mining") announced the results for the first half of 2019. From January 1, 2019 to June 30, 2019, the company expects a net profit loss of 50 million-100m for shareholders of listed companies, down 113.6% to 127.20% from the same period last year.
The main reason for the decline in the net profit of Xingye Mining Industry is that a major transportation safety accident occurred in Xiwuzhumuqin Banner Yinman Mining Co., Ltd. (hereinafter referred to as "Yinman Mining"), which led to the suspension of production and business rectification of Yinman Mining since February 23, 2019. Inner Mongolia Xingye Group Rongguan Mining Co., Ltd. (hereinafter referred to as "Rongguan Mining"), a wholly owned subsidiary of Inner Mongolia Xingye Group Rongguan Mining Co., Ltd. (hereinafter referred to as "Xilin Mining Co., Ltd."), according to the notice on the immediate suspension of production and Construction of non-Coal Mine Enterprises in Inner Mongolia, issued by the Emergency Management Bureau of Xilingol League, Since February 26, 2019, the East Wuzhumuqin Banner Emergency Management Bureau has carried out law enforcement inspections on the concentrators and mining areas of Rongguan Mining and Xilin Mining Industry on April 10, 2019 and June 4, 2019, respectively. agree to resume production; At present, Rongguan Mining and Xilin Mining have fully resumed production). As a result of the suspension of production of the above subsidiaries, the reduction in the production and sales of mineral products directly affected the operating performance of the company during this period.
The main products of Xingye Mining Industry are lead, zinc, copper, iron, bismuth, tungsten, silver, tin and other non-ferrous metals, precious metals and black metals. The affiliated enterprises are Xiwuzhumuqin Banner Yinman Mining Co., Ltd., Inner Mongolia Xingye Group Xilin Mining Co., Ltd., Inner Mongolia Xingye Group Rongguan Mining Co., Ltd., Tanghe Times Mining Co., Ltd., Xingye Mining (Shanghai) International Trade Co., Ltd., Xingye Mining (Shanghai) Equity Investment Fund Management Co., Ltd., Chifeng Fusheng Mining Co., Ltd., Bahrain Youqi Juyuan Mining Co., Ltd., Xilingol League Shuangyuan Nonferrous Metals smelting Co., Ltd., Zhengxinbai Banner Qianjinda Mining Co., Ltd., Chen Balhuqi Tiantong Mining Co., Ltd., Chifeng Rongbang Mining Co., Ltd., Chifeng Ruineng Mining Co., Ltd., Xiwuzhumuqin Banner Yitong Mining Co., Ltd. 14 molecular companies.