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The net profit of Shengtun Mining Industry in 2019 was 320 million, down 35.44% from the same period last year.
Apr 27,2020 08:22CST
The content below was translated by Tencent automatically for reference.

SMM: Shengtun Mining recently released its annual report in 2019, which showed that revenue during the reporting period was 37314269058.78 yuan, an increase of 9.99% over the same period last year; net profit belonging to shareholders of listed companies was 319500557.59 yuan, down 35.44% from the same period last year; basic earnings per share was 0.145 yuan, compared with 0.257 yuan in the same period last year.

Since the company strategically laid out the cobalt material business in 2016, this business has developed rapidly. Relying on Congo (Kinshasa), the most important source of cobalt raw materials, the company actively makes use of the advantages of channels, talents and international experience that the company already has in overseas markets to carry out the business of raw ore procurement, product trade, production and processing of cobalt materials. The company invested in Congo (DRC) and successfully produced and operated 30000 tons of electrode copper and 3500 tons of cobalt comprehensive utilization project in 2019, as well as the acquisition of cobalt material deep processing enterprise Zhuhai Kelixin. At the same time, the company actively promoted the acquisition of Enzuli during the reporting period, which was completed in March 2020 to further enhance the company's ability to control upstream resources. In addition, in order to continue to promote the development strategy of the company's cobalt materials business, the company promoted the issuance of convertible bonds during the reporting period, proposed to use convertible bonds to raise funds, and put into construction in the Democratic Republic of the Congo (DRC) a wet process project with an annual output of 30000 tons of copper and 5800 tons of crude cobalt hydroxide (metal content), so as to further increase the production capacity of the company's cobalt products and consolidate its position in the industry.

It is understood that during the reporting period, the company still focused on zinc, cobalt, copper and nickel metal varieties, accelerated the merger and acquisition of high-quality production capacity, accelerated the construction and commissioning of overseas projects, and further accelerated the pace of internationalization. The overall asset scale and asset quality have been sustained and stable development. As of December 31, 2019, the company's total assets were 18.995 billion yuan, an increase of 16.37% over the same period last year; the company's net assets returned to its parent was 9.025 billion yuan, an increase of 12.97% over the same period last year. Affected by the sharp fluctuations in the market prices of cobalt and other metals, the annual performance declined in 2019.

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