[Pb] Henan Yuguang Gold & Lead Group Reports Net Profit in 1H 2009 Down 73.47% YoY

SHANGHAI, Aug. 18 (SMM) -- Henan Yuguang Gold & Lead Group Co., Ltd., China's top lead producer, released the interim report on August 18th. The report shows the company's operating profits were RMB 34.5594 million in 1H 2009, down 70.18% YoY; total profits were RMB 36.0653 million, down 68.9% YoY; net profits were RMB 23.0356 million, down 73.47% YoY; earnings per share (EPS) were RMB 0.10.

    During 1H 2009, prices for the company's main products fluctuated frequently, and prices for sulfuric acid, major by-product during smelting process, declined significantly amid depressed economic conditions. In this context, the company firmly implemented the annual work plans, strengthened confidence in development, conducted effective research and analysis of raw material purchases and product sales, made efforts to promote energy-saving and emission-reduction, reduced costs, speeded up the project construction, resolved and mitigated effectively the production risks and operating pressure caused by market changes, and maintained production and operation plans.

    During 1H 2009, the company produced 151,400 mt of refined lead, 1,041.9684 kg of gold, 314.257 mt of silver, up -1.17%, 2.66%, 28.34% YoY, respectively. The company sold 128,877.728 mt of refined lead, 982.057 kg of gold, and 254.248 mt of silver, down 16.61%, 14.59%, 14.61% YoY, respectively.

    (Edited by SMM)