Jintian Copper's first-half net profit increased by 12.31% compared with the same period last year to enhance the R & D and production capacity of new high-end copper and copper alloy materials.

SMM: Jintian Copper Company actively overcame the adverse effects of novel coronavirus's epidemic situation. During the reporting period, its main business income was 17.625 billion yuan, an increase of 4.64% over the same period last year; and the net profit belonging to shareholders of listed companies was 247 million yuan, an increase of 12.31% over the same period last year. Among them, the total output of copper and copper alloy materials reached 579400 tons, an increase of 15.67 percent over the same period last year, a record high; magnetic materials achieved a main business income of 248 million yuan, an increase of 0.60 percent over the same period last year. During the reporting period, the company actively implemented the strategic development plan, promoted various major construction projects in an orderly manner, and made remarkable achievements in strategic planning, market expansion, R & D innovation and so on.

During the reporting period, the company accelerated the construction of key strategic projects and industrial layout, continuously optimized the product structure, and enhanced the R & D and production capacity of high-end copper and copper alloy new materials, it provides a strong support for the company's product transformation and upgrading and strategic development. The company's "annual output of 40, 000 tons of high-precision copper alloy strip project" (fund-raising project), "annual output of 350000 tons of high-conductivity and high-toughness copper wire project" (fund-raising project) is expected to be put into production in the second half of 2020; "annual output of 50, 000 tons of high-strength and high-conductivity copper alloy bar and wire project", "annual output of 80, 000 tons of hot-rolled copper strip project" is expected to be put into production by the end of 2021. During the epidemic, under the circumstances that foreign experts were unable to assist in the commissioning of the project equipment on site, the technical team of the 16Universe 168 company's annual output of 350000 tons of high-conductivity and high-toughness copper wire set an industry precedent in the installation and commissioning of the production line: first, it was successfully debugged by a Chinese company for the first time, and the second is to achieve the first successful one-time wiring in the world. In addition, the Guangdong base and Chongqing base have also entered the stage of project construction. The implementation of the above projects will further enhance the company's production capacity, optimize product structure, and increase the proportion of high value-added products.

During the reporting period, the company actively carried out innovative service models with customers as the center, and successively set up special customer development project teams for 5G, new energy vehicles and UHV industrial chains to continuously enhance the competitiveness of the company's products and services around customer needs. During the reporting period, good sales growth was achieved in 5G, new energy vehicles, UHV and other industries, with sales of products used in 5G up 284% compared with the same period last year; sales of products used in UHV increased 160% compared with the same period last year; sales of products used in the field of new energy vehicles increased by 69% compared with the same period last year; and sales of products used in the big data center increased by 74% over the same period last year.

The company is mainly engaged in non-ferrous metal processing business, the main products include copper products and rare earth permanent magnet materials.

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