SMM November 3: last night, zinc industry shares issued a "notice on the result of the transfer of the underlying assets of the restructuring", which mentioned that zinc shares decided on October 11 to acquire 100% stake in Huludao Hongyue Northern Copper Co., Ltd., held by Huludao Hongyue Group, which has now been delivered. Zinc shares already own 100 per cent of Hongyue Northern Copper.
According to the Equity transfer Agreement, Zinc shares will pay 418 million in cash to Hongyue Group within 30 working days from the date of delivery of the assets of the bid; within 12 months from the date of delivery of the assets of the bid, Zinc shares will have to pay 342 million yuan to Hongyue Group. So far, Zinc shares have not paid the consideration of this transaction to Hongyue Group, and will then pay the full amount to Hongyue Group within the time limit stipulated in the above agreement.
Public data show that zinc industry shares are mainly engaged in the smelting and deep processing of non-ferrous metal lead and zinc, while comprehensively recovering valuable metals such as gold, silver, bismuth and by-products such as sulfuric acid and zinc sulfate.
As early as August 23, Zinc Co., Ltd. announced that it planned to invest 760 million yuan to acquire a 100% stake in Hongyue North Copper. Now, after two months of preparation and coordination, the above transaction has been successfully completed, and since then, the main business of Zinc will join the copper smelting and deep processing business.
As we all know, the price of copper in non-ferrous metals rose in the first half of 2021, and the huge profits brought by it are coveted by many enterprises. While Hongyue North Copper crude copper smelting process and electrolytic copper process are in the domestic leading level, zinc industry shares also said frankly after making this decision that the addition of Hongyue North Copper will improve the company's future business income and net profit to a certain extent.
On the evening of October 22nd, Zinc Co., Ltd. released its results for the third quarter of 2021. According to the financial report, the company achieved a total revenue of 3.743 billion yuan in the third quarter, an increase of 91.99% over the same period last year. The net profit of shareholders belonging to listed companies was 55.3434 million yuan, down 35.10% from the same period last year. The company achieved a total revenue of 7.92 billion yuan in the first three quarters, an increase of 62.57% over the same period last year, and the net profit of shareholders belonging to listed companies in the first three quarters totaled 154 million yuan, up 11.55% from the same period last year.
