Shengda Metal's half-year results forecast for 2020, the first-half net profit fell sharply compared with the same period last year.

Published: Jul 7, 2020 21:20

SMM7 March 7: Shengda Resources released a half-year 2020 semi-annual performance forecast, the company expects the first half of 2020 net profit attributable to shareholders of listed companies 19 million yuan-23 million yuan, a decrease of 91.05% MUE 89.16% over the same period last year. Affected by the epidemic of Xinguan pneumonia, the rework of the mine personnel belonging to the company was limited, and the start of work was delayed by 1 Mel for 2 months, resulting in a significant decline in production and sales in the first half of the company compared with the same period in previous years.

During the reporting period, due to the impact of the Xinguan pneumonia epidemic, the rework of the mine personnel belonging to the company was limited, and the start of construction was delayed for 1 month than the planned time, resulting in a significant decline in production and sales in the first half of the company compared with the same period in previous years. At the end of March, the company's mining operations resumed one after another, and the company's mineral processing operations fully resumed at the end of April. After May, in addition to the subsidiary Jinshan Mining, the company belongs to other mining enterprises to fully resume product sales.

Jinshan Mining, a subsidiary of the company, produced silver ingots relatively late in the previous year due to the production cycle, and basically did not sell in the first half of the year, and the sales of the current products were mainly concentrated in the second half of the year. Due to the superimposed impact of the epidemic this year, Jinshan Mining did not achieve product sales in the first half of the year, but mining and separation operations in the mine fully resumed in late April, and the first batch of silver ingots will also complete the smelting process this month, laying the foundation for the implementation of annual production and sales tasks.

In the second half of the year, on the basis of ensuring safety in production, the company will ensure the realization of the annual production target by increasing the shift and optimizing the efficiency of the shift, and at the same time seize the favorable situation of the silver price trend to scientifically formulate a sales plan to maximize the company's operating efficiency.

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