Metals News
Northern rare earths: net profit rose 21.56% in the first three quarters from a year earlier
Oct 26,2019
The content below was translated by Tencent automatically for reference.

SMM: on October 25, China Northern rare Earth (Group) High-tech Co., Ltd. ("Northern rare Earth", 600111), China's largest rare earth supplier, released a report for the third quarter of 2019. The company's operating income in the first three quarters was 14.085 billion yuan, an increase of 51.18% compared with the same period last year. The net profit attributable to shareholders of listed companies was 461 million yuan, an increase of 21.56% over the same period last year. Basic earnings per share were 0.1269 yuan per share, an increase of 22.02 percent over the same period last year.

According to the unaudited production and operation data disclosed at the same time, the production of rare earth oxides, rare earth salts, rare earth metals, magnetic materials, polishing materials and hydrogen storage materials in the third quarter was 5258.00 tons, 13804.60 tons, 2721.81 tons, 6313.80 tons, 5575.02 tons and 421.39 tons respectively, and the sales volume was 3473.48 tons, 11966.19 tons, 3324.14 tons, 6535.44 tons, 6139.49 tons and 473.83 tons, respectively. The gross profit margins were 26.26%, 26.69%, 26.34%, 13.08%, 22.12% and 5.28%, respectively.

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