[Pb] SMM Morning Review - 2009/7/29 Lead Market

SHANGHAI, July 29 (SMM) -- Guangdong Dongyangguang Aluminum Co. Ltd announced on July 28th that the company predicted its net profits during 1H 2009 would drop by 70-90% YoY after the preliminary calculation by the company's financial department. The company achieved net profits of RMB 88,509,633.95 during the same period 2008, with earnings per share of RMB 0.11.
&nbsp;&nbsp;&nbsp; Declines in net profits in 1H 2009 were due mainly to negative impact from international financial crisis and macro economic conditions. The export volumes of some products decreased due to falling market demand; the selling prices of company's leading products fell, leading to YoY declines in gross profits of its leading products, so the company's profitability dropped as well.
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