SMM2 26: today, Yunnan Luoping Zinc Power Co., Ltd. released 2019 annual results report.
The company's total operating income for the current period was 1.8666748 billion yuan, an increase of 73.82% over the same period last year, with a total profit of 30.3539 million yuan and a net profit of 24.3855 million yuan, an increase of 109.46% over the same period last year.
During the reporting period, the company's total operating income was 1.8666748 billion yuan, an increase of 73.82% over the same period last year. The main reason was that the output and sales of zinc products in this period increased significantly over the same period last year. The main reasons for the increase in operating profit, total profit, net profit attributable to shareholders of listed companies and basic earnings per share during the reporting period were 115.40%, 112.28%, 109.46% and 110.00% respectively over the same period last year:
First, the processing fee deducted from the raw material purchase in this period increases, which leads to the decrease of the unit cost of the raw material purchase, and the decrease of the cost exceeds the decrease of the selling price, resulting in the increase of the gross profit margin of zinc products.
Second, the current period receives more than 18 million yuan of special government subsidies related to income, which belongs to non-recurrent income and directly increases the net profit of the current period;
Third, in the same period of last year, there was a relatively large loss due to the following factors, but it did not occur in the current period:
(1) at the end of last year, due to the decline in the price of zinc ingots, a provision of 31.5443 million yuan was made for the decline in inventory prices;
(2) according to the requirements of environmental hidden trouble rectification, there are 50.9777 million yuan of lead waste disposal fee and 13.8854 million yuan of slag storage fee;
(3) due to the shutdown and rectification of production last year, the zinc oxide powder and ZnSO powder (2H2O) recovered from the waste residue of the comprehensive utilization plant increased continuously. Due to the limited storage capacity of the warehouse and other reasons, the export must be able to ensure the normal operation of the process, resulting in an increase of 59.5609 million yuan in losses.
(4) last year, due to the upgrading and rectification of the factory area, some of the fixed assets were cleared and scrapped, resulting in a loss of 33.8922 million yuan in the destruction and scrapping of illiquid assets;
(5) the shutdown loss of 26.4395 million yuan occurred in the smelting workshop and some mines last year as a result of production shutdown and rectification.
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