Zhuzhou Smelter Group Estimates Net Profits in 1H Will Down over 80% YoY

SHANGHAI, July 23 -- Zhuzhou Smelter Group released bulletin on July 22nd, and the company predicted its net profits in 1H 2009 will fall by over 80% YoY after calculation. The company achieved net profits of RMB 93,985,400 during the same period 2008, with earnings per share of RMB 0.178.

    As the demand for lead and zinc from international and domestic markets declined due to financial crisis, and prices for lead and zinc products remained sluggish, leading to narrowed profit margins for the company’s leading products; the selling prices for sulfuric acid, the company’s by-product, plunged due to national macro policy, leading to decreased gross profits at the company.

    (Edited by CBI China)