The net profit of Yunhai Metal in the first three quarters increased by 51.01% ~ 57.42% compared with the same period last year. Magnesium price and aluminum price rose.

On the evening of October 12th, Yunhai Metal released a forecast of its results for the first three quarters. The company expects the net profit attributed to shareholders of listed companies to be 259 million yuan to 270 million yuan in the first three quarters of 2021, an increase of about 51.01% to 57.42% over the same period last year. Basic earnings per share is 0.4007 yuan per share to 0.4177 yuan per share.

Among them, in the third quarter, from July 1, 2021 to September 30, 2021, the net profit belonging to shareholders of listed companies was 116.7314 million yuan to 127.7314 million yuan, an increase of 56.65% to 71.41% over the same period last year, and basic earnings per share: 0.1806 yuan per share to 0.1976 yuan per share.

Yunhai said the year-on-year increase in results in the first three quarters of 2021 was mainly due to higher magnesium and aluminum prices during the reporting period. Although the raw material price and product price of magnesium have risen, the company's industrial chain is complete, the original magnesium is basically self-sufficient, the increase in cost is lower than that of product price, and the profit of magnesium alloy products increases. The pricing model of the company's aluminum products is the average price of aluminum + processing fees. with the rise of aluminum prices, the profits of the company's aluminum products increase, in addition, the sales of deeply processed products such as aluminum extruded automobile structures and microchannel flat tubes increase, and the profits of aluminum deep processing products increase compared with the same period last year.